LIV Golf is reportedly preparing to file for bankruptcy in the coming weeks as part of a plan to restructure its contracts and reduce its outstanding debt. The move comes amid ongoing uncertainty about the future of the league, which earlier this week was reported to be close to securing more than $250 million in new investment.

According to sources familiar with the situation, players under multiyear or rolling contracts with outstanding payments have been offered equity stakes in a reorganized version of the league—referred to as LIV Golf 2.0. The equity offers vary significantly depending on each player's current contract value and stature within the sport. Some reports suggest that, if funding is successfully secured, the players could collectively become majority owners of the new league.

Indication of Interest (IOI) documents have been circulated among players to formalize these equity arrangements, though responses have been mixed. While some players are willing to continue with the restructured league model, others have either declined or not responded to the offers.

A key figure in the negotiations is Jon Rahm, who reportedly remains owed a nine-figure sum on a contract signed before the 2024 season, which still has multiple years remaining. His decision is seen as pivotal to the league’s potential revival.

The pending bankruptcy filing is expected to facilitate LIV Golf’s efforts to renegotiate contract terms and secure new investment, though the final shape and ownership structure of the league remain uncertain. The league’s executives and players have yet to formally comment on the reported developments.