LIV Golf announces mass layoffs as Saudi funding ends
LIV Golf has told most of its employees they will be laid off in early September, following the end of Saudi Arabia's Public Investment Fund's financial support. The league spent over $5 billion in five years and is seeking a new lead investor to fund a 'LIV 2.0' model. The CEO acknowledged a compressed timeline and the need for player buy-in for any deal.
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