SportGolfLIV GolfLIV Golf's uncertain future continues with more than 250 jobs set to be cut ahead of the breakway league's next phase as they seek a new investor21:05, 26 Aug 2026LIV Golf have told staff that 90 percent of them are to be axed next week as the future of the breakaway league looks increasingly uncertain.‌The mass cuts are set to see more than 250 people leave the organisation. LIV currently employs approximately 300 people through its New York and London offices. The decision of the Saudi Arabian Public Investment Fund (PIF) to pull its investment has had mass knock-on effects.‌Those being let go have been given 30-day termination notices but The Telegraph reports that the scale of the downsizing has surprised staff. The executives have reportedly been retained.‌On Wednesday, the staff who were laid-off were assured that there will be opportunities for re-employment should LIV 2.0 materialise, which is dependent on an investor being found. Scott O’Neil, LIV’s chief executive, announced last month that there was a lead investor who has signed a “term sheet”.That is thought to be BC Partners, a London-based equity and credit agency, but no official word has been made.An official statement said: “The funding commitment announced by PIF earlier this year will reach its conclusion. As a result, we are scaling back operations as we transition to the next chapter of LIV Golf and work toward making LIV 2.0 a reality.‌“This week, we informed many of our colleagues that their employment under LIV 1.0 will end in the first week of September. We are grateful to our employees for their hard work and dedication in building LIV Golf, and we remain committed to supporting those affected through this transition.”O’Neil has discussed his vision for LIV 2.0, which would be a more efficient organisation whilst staffing would be scaled back. There would be only 10 tournaments with prize funds in the region of $6m to $10m - a third of what they have been in the first four seasons.Article continues belowLIV, in his current guise, still has vendors and contractors who are owed millions of dollars. That includes Jon Rahm who is rumoured to have a nine-figure sum awaiting on the $300m signing-on fee that saw him make the leap to the breakaway league - he remains the biggest signing in the organisation's history.LIV executives are “almost resigned” to Rahm leaving. Tyrrell Hatton has remained coy regarding his LIV future, but stated he has “multiple years” left on the contract he signed at the start of 2024."I would expect there to be LIV next season," the 34-year-old said. "I know they've worked really hard to get the funding stuff in place and its full steam ahead on that front."Choose Daily Mirror as a 'Preferred Source' on Google News for quick access to the news you value.‌LIV Golf