LIV Golf has filed for bankruptcy protection in the United States, leaving the futures of its players uncertain as the tour moves through a court-supervised restructuring process. The tour, which launched in 2022 with funding from Saudi Arabia’s Public Investment Fund (PIF), announced the restructuring in the District of New Jersey following PIF’s withdrawal of sponsorship earlier this year.
In its statement, LIV Golf said the bankruptcy filing provides the framework and time necessary to address outstanding financial obligations and to complete a transaction aimed at creating a sustainable future for the league. LIV also confirmed it has found a new investment partner, BC Partners, to support its next phase.
Court documents filed as part of the bankruptcy reveal that LIV owes approximately US$45 million to players, with several high-profile golfers among the top creditors. Spanish star Jon Rahm is reportedly owed $7.5 million, while American Bryson DeChambeau is owed $5.7 million. Other notable players listed include Dustin Johnson ($5.5 million), Cameron Smith ($4.8 million), and Tyrrell Hatton ($3.4 million). LIV estimates its assets to be between $100 million and $500 million, while liabilities range from $500 million to $1 billion.
The bankruptcy protection case allows the tour to negotiate with players on their future options. Some players have already secured alternative arrangements. Rahm and Hatton, for instance, signed deals with the DP World Tour earlier this year, making them eligible to compete on the European Tour. Both are currently participating in the Irish Open in Doonbeg, Ireland, and are slated to play in the BMW PGA Championship at Wentworth Club in Surrey next week.
When asked about his situation, Rahm stated that there has been little change since his previous comments, noting that his contract with LIV remains in place and that he intends to fulfill it, suggesting a wait-and-see approach to developments.
DeChambeau, meanwhile, has expressed continued commitment to LIV Golf, describing himself as “all-in” on the tour’s restructuring and the planned 2027 season. Johnson and Smith are also reportedly expected to remain with LIV.
The DP World Tour has acknowledged receiving “a high volume” of inquiries from LIV players and is considering terms to allow them to participate, subject to compliance with membership regulations and freedom from conflicting contractual obligations.
Looking ahead, LIV Golf aims to relaunch a “majority player-owned league” in early 2027. According to market reports, the league plans to raise $300 million to fund the upcoming season, with tickets already on sale for next year’s events. Despite its financial struggles, LIV Golf has reportedly invested hundreds of millions of dollars to attract top golfers, with PIF’s overall investment reaching around $5 billion.
Since its inception, LIV Golf has been viewed by many as a challenge to the established PGA Tour, attracting high-profile players and sparking debate within the golfing community. While some fans favor the new format, others continue to follow traditional tours — and some watch both.