LIV Golf announced on September 8 that it has filed for Chapter 11 bankruptcy protection as part of a restructuring plan intended to preserve the league. The move follows several months of financial uncertainty after the Saudi Public Investment Fund, the venture’s primary backer, withdrew its support earlier this year.

Despite the fiscal challenges, LIV Golf CEO Scott O’Neil emphasized the league’s commitment to continue operations beyond 2026, although the organization will undergo significant changes. The relaunch, referred to as “LIV 2.0,” will introduce a revised competitive format that aligns more closely with traditional professional golf tours.

According to a letter from O’Neil to fans, one of the most notable adjustments will be the expansion of tournament fields to 75 players, the implementation of a cut system during events, and the addition of Monday qualifiers for players seeking entry into competitions. These elements mark a departure from LIV Golf’s original format, which did not feature cuts or qualifiers. O’Neil also mentioned that there will be “additional pathways” for players to participate, though he did not elaborate on the specifics.

While O’Neil had previously indicated plans to host 10 events in upcoming seasons, he did not specify how many tournaments will take place next year. He reaffirmed the league’s intention to maintain a global presence, competing across five continents, with events expected in countries including Australia, South Africa, Mexico, England, Hong Kong, and the United States.

The team component, a distinctive feature of LIV Golf’s structure, will remain intact with an added emphasis on national identities. O’Neil described this evolution as building on “the passion and momentum of World Cup-style competition,” though details on how this will be implemented are yet to be released.

Additional aspects that contribute to LIV Golf’s unique appeal will also continue, such as free admission for children under 12 and the inclusion of entertainment elements like music and cultural activities aimed at creating a distinct weekend experience.

The restructuring signals a shift in LIV Golf’s operational approach as it seeks to stabilize financially and reinvent its product while sustaining its presence in the competitive golf landscape.