LIV Golf reduces operations, lays off many employees as funding ends

LIV Golf announced it will scale back operations following the conclusion of its fifth season, set for early September. The league's funding from Saudi Arabia's Public Investment Fund will expire, leading to the termination of a significant number of employees. LIV Golf has reported losses of $6 billion, and while it has found success in Australia and South Africa, it has struggled to gain traction in the United States. CEO Scott O'Neil indicated that a lead investor may provide $250 million to support the league's next phase, referred to as LIV 2.0, with a planned shift towards player ownership. Specific numbers of affected employees and their potential return remain uncertain.

• 4:46 PMYahoo Sports — LIV Golf scaling back operations, terminating significant number of employees as funding expires