LIV Golf enters bankruptcy protection as player contracts face court-supervised end

LIV Golf has filed for Chapter 11 bankruptcy protection in the United States after Saudi Arabia’s Public Investment Fund withdrew its multibillion-dollar backing, beginning a court-supervised restructuring of the breakaway league.

BBC Sport reports that existing player contracts are expected to end through the process, potentially freeing players to leave. The court filing is also understood to allow LIV to begin discussions with players about a proposed future competition, although it remains unclear when they could negotiate with other tours.

LIV says the Chapter 11 process will provide time to address obligations to players and other creditors. PIF is providing US$49.6 million in debtor-in-possession financing to support the proceedings. Chapter 11 allows a company to reorganise its debts or sell parts of the business and does not amount to liquidation.

The league has identified international investment firm BC Partners as its proposed new investor. LIV intends to launch a majority player-owned competition early next year, with players set to receive equity and regain individual commercial rights. The proposed transaction has not been completed, and the timing and final structure of any relaunch remain uncertain.

The proposed model would operate with lower purses than the PGA Tour but higher than the DP World Tour. LIV has also outlined possible 75-player fields, a cut, qualifying events and additional teams built around national identities.

PIF spent more than US$5 billion on LIV since its founding in 2021, but said in April that the long-term funding required was no longer consistent with its strategy. The league’s 2026 season ended early amid uncertainty over its future, after prominent players including Jon Rahm and Bryson DeChambeau had been recruited with lucrative contracts and prize money.