LIV Golf, the breakaway tour that spent billions luring top players away from the PGA Tour, has filed for bankruptcy protection in the US, it announced on Tuesday.
Launched in 2022, free-spending LIV caused shockwaves and bitter divisions in the golf world, before losing the backing of its deep-pocketed Saudi investors this year, prompting a scramble to stay afloat.
“This process gives us the structure and time to pursue a landmark transaction and begin the next chapter of LIV Golf,” said the chief executive, Scott O’Neil, whose organisation had already laid off the majority of its staff this month.
O’Neil said LIV still intends to return in a new form next year “built around the fans, an innovative, player-first ownership model, and a part of the global golf ecosystem.” But “no definitive decisions regarding the 2027 schedule or individual events are being announced at this time,” the statement added.
Saudi Arabia’s Public Investment Fund (PIF) had spent an estimated $5bn on the tour before abruptly pulling the plug this year. LIV Golf is also seeking recognition of the US bankruptcy filing in England and Wales to cover its international assets and operations.
LIV officials have pledged that a “2.0” version of the tour will re-emerge under new investors next season, with a shorter schedule and reduced prize money. Much will depend on whether top stars including Bryson DeChambeau and Jon Rahm remain. Tuesday’s statement said “the company remains in advanced discussions”with players, including on “creating an ownership structure aligning players’ interests with the League’s long-term success.”
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Widespread reports have linked several LIV stars with returns to the PGA Tour and other series, though the PGA said it has no plans to offer LIV players a pathway back.