LIV Golf has filed for Chapter 11 bankruptcy protection in New Jersey, halting its current business model after its primary financial backer, Saudi Arabia’s Public Investment Fund (PIF), withdrew support. The league's 2026 season concluded early in Indianapolis following the funding cut.
According to bankruptcy filings, LIV Golf owes millions of dollars in unpaid compensation to prominent players, including Jon Rahm, Bryson DeChambeau, Dustin Johnson, and Cam Smith. The organization has also laid off a significant portion of its staff and is facing a lawsuit from the Premier Golf League over alleged breach of confidence and conspiracy.
PIF halted its funding in April, reportedly to redirect resources toward domestic projects and navigate financial pressures arising from regional conflicts. PIF governor Yasir Al-Rumayyan has resigned from LIV's board. PIF has provided $50 million to assist LIV in covering its expenses during the bankruptcy proceedings.
The league's future hinges on a proposed restructuring plan, dubbed "LIV 2.0," which involves London-based private equity firm BC Partners potentially providing funding for a 2027 relaunch. This plan would also grant players majority ownership of the league. LIV CEO Scott O’Neil has outlined a potential new format for a rebooted league, featuring 75-player fields, 72-hole tournaments, cuts, Monday qualifiers, and a national team structure. This proposed format closely resembles traditional tour models that LIV Golf initially aimed to disrupt.
Chapter 11 proceedings are expected to void existing player contracts. The league, which entered professional golf with substantial financial backing, now faces bankruptcy, outstanding obligations, and an uncertain future.