LIV Golf Enters Bankruptcy as Saudi Support Withdrawn

LIV Golf has filed for Chapter 11 bankruptcy protection in New Jersey, pausing its business model after five years of operations. The move comes after the premature end of its 2026 season in Indianapolis, a consequence of the withdrawal of support from its primary financial backer.

Saudi Arabia’s Public Investment Fund (PIF) halted funding in April to prioritize domestic projects and address financial pressures stemming from regional conflicts with Iran. This decision led to the resignation of PIF governor Yasir Al-Rumayyan from LIV’s board.

Between 2021 and 2026, LIV Golf spent an estimated $5 billion to $8 billion. Bankruptcy filings reveal that the league owes millions in unpaid compensation to top players such as Jon Rahm, Bryson DeChambeau, Dustin Johnson, and Cam Smith. The organization has laid off most of its operational staff, left event contractors awaiting payment, and faces a lawsuit from the Premier Golf League over allegations of breach of confidence and conspiracy.

PIF has provided $50 million to support LIV during the bankruptcy case, as the league’s future hinges on a proposed restructuring plan called “LIV 2.0.” Under this plan, London-based private equity firm BC Partners, which has ties to player agency GSE Worldwide, would finance a relaunch in 2027. This plan would also grant players majority ownership of the league.

LIV CEO Scott O’Neil detailed a new format for the proposed reboot, featuring 75-player fields, 72-hole tournaments, cuts, Monday qualifiers, and a national team structure. This format closely aligns with the traditional tour model that LIV initially aimed to replace.

Chapter 11 proceedings are anticipated to negate existing player contracts. The league, which entered professional golf with billions of dollars, now grapples with bankruptcy, unpaid obligations, and an uncertain future.