LIV Golf makes meagre offer to players owed millions as bankruptcy looms

By the Editorial Team · Tuesday, September 1, 2026

LIV Golf is preparing to file for bankruptcy protection amid over $5 billion in losses and halted funding from Saudi Arabia's Public Investment Fund, while negotiating settlements with players owed millions. The league aims to restructure and relaunch in 2027 with a smaller schedule and more flexible player participation, backed by potential new investment from BC Partners.

LIV Golf is reportedly preparing to file for bankruptcy protection as soon as next week amid ongoing financial difficulties and efforts to secure funding for a restructured version of the league planned for 2027. The challenger golf tour, launched in 2022 by Saudi Arabia's Public Investment Fund (PIF) as an alternative to the US PGA Tour, has faced mounting losses exceeding $5 billion.

Sources familiar with the negotiations said that LIV Golf recently sent settlement offers to players owed millions in guaranteed payouts beyond 2026. These offers reportedly amount to only a few cents on the dollar, reflecting the league’s strained resources following the decision by PIF earlier this year to cease further funding. The Saudi sovereign wealth fund had been the primary financier of LIV, covering substantial player bonuses and prize money, but its reluctance to continue financial support has significantly impacted the league’s operations.

LIV management remains dependent on the PIF as it works to facilitate a transition to a smaller, more sustainable model. For several weeks, LIV has been negotiating a funding package with private investment firm BC Partners, whose executives have met with players at recent tournaments in Indiana and New Jersey to discuss potential arrangements. The negotiations reportedly include a plan to offer equity awards and other financial incentives tied to a proposed "LIV 2.0."

The envisioned LIV 2.0 would feature a global schedule of approximately 10 tournaments per year. LIV chief executive Scott O’Neil emphasized at the 2026 LIV finale in Indiana that the new circuit aims to remove restrictions currently limiting player participation in other tours. “We shouldn’t live in a world where one group of golfers is uniquely restricted from playing elsewhere,” O’Neil said.

Those following the situation have identified three camps among LIV contracted players: those willing to settle and join the new league iteration, those who would settle but not participate further, and those prepared to contest for their contractual payouts by remaining unsecured creditors in the forthcoming bankruptcy process. There is uncertainty whether the bankruptcy filing will occur with the new LIV structure finalized or beforehand.

BC Partners is reportedly waiting on LIV and PIF to resolve outstanding player payments and finalize the terms of the bankruptcy proceeding. Some insiders have indicated the investment firm is exploring an equity-like investment designed to preserve the league’s financial interests despite the heavy losses incurred.

Representatives for LIV Golf, the Public Investment Fund, and BC Partners declined to comment on the situation.

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.