Troubled league LIV Golf files for bankruptcy protection in US

LIV Golf says it intends to restructure its business with a $49.6m bankruptcy loan provided ⁠by the Saudi PIF.Less than five years after it held its first event and created a schism in professional golf, LIV Golf has filed for bankruptcy protection in New Jersey, United States.The Chapter 11 bankruptcy, or reorganisation bankruptcy, filed on Tuesday, allows the debtor to remain in possession and operate its business, according to US Courts.The move offers a rare window into the league’s financial state, with LIV Golf owing between $500m and $1bn in estimated liabilities to at least 1,000 creditors, including star players like Bryson DeChambeau and Jon Rahm.The filing listed several other high-profile golfers as creditors still owed millions in unsecured claims. Spaniard Rahm has the largest claim among players at $7.5m, followed by DeChambeau ($5.7m), Dustin Johnson ($5.5m), Cameron Smith of Australia ($4.8m), Tyrrell Hatton of England ($3.4m) and Brooks Koepka ($1.7m). Koepka left the league at the start of 2026.The bankruptcy filing was widely expected after LIV axed the majority of its staff earlier this month and scrapped its season-ending team championship in August after losing the backing of Saudi Arabia’s Public Investment Fund (PIF).Since LIV’s launch in 2022, PIF had poured an estimated $5bn into the tour before abruptly pulling the plug.The PIF will now provide a loan worth nearly $50m for the bankruptcy and reorganisation process, the LIV statement showed.LIV Golf ‘2.0’LIV’s decision to file for bankruptcy is not a sign that it is dissolving, but rather a step towards restructuring and continuing the PGA Tour competitor under a new business plan.