LIV Golf files for bankruptcy protection

By the Editorial Team · Thursday, September 10, 2026

LIV Golf filed for bankruptcy protection in New Jersey, citing liabilities between $500 million and $1 billion and halted funding from its main backer, Saudi Arabia’s Public Investment Fund. The tour plans to restructure with a new player-owned model and reduced schedule, aiming to relaunch in 2024 despite ongoing financial and contractual challenges.

LIV Golf, the breakaway professional golf tour known for aggressively recruiting top players from the PGA Tour and igniting significant division within the sport, has filed for bankruptcy protection. The filing was submitted in a New Jersey court on Monday and signals the organization’s intent to restructure and potentially re-emerge in a new form.

Financial documents reveal that LIV Golf faces liabilities estimated between $500 million and $1 billion, owed to more than 1,000 creditors, among them high-profile players such as Bryson DeChambeau, Jon Rahm, and Dustin Johnson. These athletes hold some of the largest unsecured claims, each reportedly owed over $5 million in overdue payments. However, the true amounts due may be considerably higher, reflecting the extensive future contract values that some golfers have with the tour.

The financial troubles stem largely from the withdrawal of funding by Saudi Arabia’s Public Investment Fund (PIF), which had invested an estimated $5 billion into LIV Golf since its inception in 2022. This funding ceased abruptly earlier this year, triggering cost-cutting measures that included the dismissal of most staff members and the cancellation of the tour’s season-ending team championship in August.

Despite the setbacks, LIV’s CEO Scott O’Neil expressed optimism in a release, stating that the bankruptcy filing provides the organization with the structural framework and time necessary to pursue “a landmark transaction” and begin a new phase for the tour. O’Neil outlined plans to relaunch LIV Golf next year with an “innovative, player-first ownership model” that would enable players to share directly in the future value they help generate. The company is also reportedly in advanced discussions with players about this new ownership structure.

The proposed relaunch aims to feature a reduced schedule and lower prize money, with tournaments planned across five continents, including venues in Australia, South Africa, Mexico, England, Hong Kong, and the United States. No definitive details regarding the 2027 season or specific events have yet been announced.

To facilitate the bankruptcy and reorganization process, the PIF will provide a loan of nearly $50 million. Although the filing marks a significant hurdle for LIV Golf, its leadership asserts that efforts are underway to restructure and revive the tour, leaving the future participation of its star players uncertain as negotiations continue.

This article was reported by synthesizing coverage from multiple independent news outlets to present a balanced, unbiased account. Read about our editorial standards. Spotted an error? Let us know.