Trump Backed LIV Golf Warns of Layoffs
Summary
LIV Golf, a golf league backed by Saudi Arabia’s Public Investment Fund (PIF) and supported by President Donald Trump, has warned its employees about possible layoffs as it seeks new investors after PIF announced it will stop funding the league after the 2026 season. Despite this, LIV Golf says it will continue its scheduled events and is actively working to secure new funding.Key Facts
- LIV Golf was started in 2022 as a rival to the PGA Tour and attracted top golfers with large contracts.
- Saudi Arabia’s PIF has invested between $5 billion and $8 billion since the league’s start but will stop funding after the 2026 season.
- LIV Golf has notified employees about potential layoffs but says there are no immediate changes to its schedule or staff.
- The league is looking for $250 million to $350 million in new investment to keep operating beyond 2026.
- President Donald Trump has supported LIV Golf and hosted events at his golf courses.
- Trump has encouraged PGA Tour to welcome back LIV players after funding ended.
- LIV Golf CEO Scott O’Neil is confident in finding new investors and completing the current season.
- Top players like Jon Rahm have not been asked to invest but haven’t ruled out the possibility.
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