LIV Golf lays off most staff as funding troubles continue

LIV Golf is laying off the majority of its workforce starting next week, following the Saudi Arabia Public Investment Fund's decision to withdraw financial support. The organization is actively seeking new investors to ensure its future, as it tries to revitalize itself with a planned 'LIV 2.0' initiative. This move comes after challenges in attracting enough advertising and sponsorship revenue to balance the significant signing bonuses extended to top players. The Public Investment Fund, which has invested around $5 billion, has recently been reducing its spending across various projects.

• 1:44 PMYahoo Sports — PIF pulls the plug on LIV Golf