One of the LIV Golf League's primary streaming partners, Caffeine TV, announced it will be shutting down operations on Wednesday.

The company released a statement citing struggles to make a profit.

“We’re at the point where we are still not quite profitable, so we’ve made the decision to end the service as of June 26th as we figure out our next steps. We’ve had a huge impact on the industry and will again soon, in a different way. Many, many thanks to all involved. We’ll remember this for life.”

Caffeine, which launched in 2016, aimed to offer a Twitch-like streaming platform focusing on esports, video games, and live entertainment. It soon pivoted to niche sports content, such as the World Surfing League and the X Games.

Caffeine secured over $100 million in investing from the Murdoch family (21st Century Fox). It ultimately raised upwards of $300 million with significant contributions from VC behemoth Andreessen Horowitz and Disney.

Rather than secure a deal with a tech giant amid the boom in sports rights, LIV Golf settled for a deal with Caffeine in February for its digital broadcast rights. (Those streams will no longer be available). Money aside, the deal was seen as curious for a league (theoretically) trying to establish credibility as it (theoretically) competes with the PGA Tour.

LIV Golf is in the second year of a two-year revenue sharing deal with The CW. Through its first four events of 2024, the Saudi Arabia-backed enterprise — which boasts a legitimately innovative television product — had enjoyed a modest but notable uptick in linear viewership.

LIV Golf will now be without a paid streaming rights partner for its final six events of its third full season.

With nine 2024 events in the books, LIV's three most recent high-profile coups from the PGA Tour are setting the bar. Joaquin Niemann currently leads the individual points standings by a considerable margin, having won in Mayakoba and Jeddah. (Caffeine showed two million people had streamed LIV Jeddah — featuring Anthony Kim's shocking return — though those figures were just clicks.)

Jon Rahm, still seeking his first LIV trophy, sits second in the standings thanks to top 10s in every event. Tyrrell Hatton, fresh off a win in Nashville, is in third place.

Crushers GC, captained by 2024 U.S. Open champion Bryson DeChambeau, is leading the team standings, just ahead of Rahm's Legion XIII and Niemann's Torque GC.

Meanwhile, representatives from LIV's backer, the Public Investment Fund (PIF), have been meeting with PGA Tour officials for weeks as negotiations towards a new framework agreement gradually pick up steam.

On the Friday of the RBC Canadian Open, Rory McIlroy, Tiger Woods, PGA Tour Commissioner Jay Monahan, and PIF Chairman Yasir Al-Rumayyan — among other bigwigs — met in New York.

LIV will next head to Andalucia (July 12-14), the UK (July 26-28), Greenbrier (Aug. 16-18), and Chicago (Sept. 13-15) before culminating with its Team Championship in Dallas (Sept. 20-22).

Much to the chagrin of its members, LIV Golf results remain unrecognized by the Official World Golf Ranking, limiting its players' pathways into majors and the 2024 Paris Olympics.