LIV Golf Files for Bankruptcy Protection

LIV Golf, the breakaway professional golf league that challenged the established PGA Tour, has filed for Chapter 11 bankruptcy protection in New Jersey. The move comes after Saudi Arabia's Public Investment Fund (PIF), the league's primary financial backer, withdrew its multibillion-dollar funding earlier this year, prompting a scramble for a new financial path. In its filing, LIV Golf stated its intention to restructure its business and pursue a "landmark transaction" to begin a new chapter. The PIF is providing a nearly $50 million loan to support the bankruptcy and reorganization process. The league has also partnered with the investment firm BC Partners for its restructuring efforts, with plans to re-emerge in a new form, potentially player-owned, for the 2027 season. This bankruptcy filing is expected to void existing player contracts with LIV Golf 1.0, freeing golfers who joined the circuit from the PGA Tour to seek other playing opportunities. Top players such as Jon Rahm, Bryson DeChambeau, and Dustin Johnson are listed among the largest unsecured creditors, with each reportedly owed more than $5 million.