LIV Golffiled for Chapter 11 bankruptcy protection in New Jersey, putting its current business model on hold after five years of operations. The filing follows the early conclusion of its 2026 season in Indianapolis after its primary financial backer withdrew support.

Saudi Arabia’s Public Investment Fund(PIF) halted funding in April to redirect money toward domestic projects and manage financial pressures from the regional war with Iran. Following the decision, PIF governor Yasir Al-Rumayyan resigned from LIV’s board.

INEVITABLE OUTCOME ARRIVES FOR LIV GOLF AS SAUDIS OFFICIALLY PULL PLUG ON FUNDING

Between 2021 and 2026, LIV spent an estimated $5 billion to $8 billion. Bankruptcy filings show the league owes millions of dollars in unpaid compensation to top players, including Jon Rahm, Bryson DeChambeau, Dustin Johnson and Cam Smith.

The organization has laid off most of its operational staff, leftevent contractors waiting for paymentand faces a lawsuit from the Premier Golf League alleging breach of confidence and conspiracy.

PIF provided $50 million to help LIV pay its bills and continue operating during the bankruptcy case. The league’s future depends on a proposed restructuring plan called \"LIV 2.0.\"

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Under the proposal, London-based private equity firm BC Partners, which has financial ties to player agency GSE Worldwide, wouldfund a 2027 relaunch. The plan would also give the players majority ownership of the league.

LIV CEO Scott O’Neil outlined a new format for the proposed reboot, including 75-player fields, 72-hole tournaments, cuts, Monday qualifiers and a national team structure.

The format closely resembles the traditional tour model that LIV originally sought to replace.

Chapter 11 proceedings are expected to void existing player contracts.

The league that entered professional golf with billions of dollars is now trying to survive bankruptcy, unpaid obligations and an uncertain future.

Send us your thoughts: alejandro.avila@outkick.com / Follow along on X: @alejandroaveela

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The venture, previously backed by Saudi Arabia's Public Investment Fund (PIF), is expected to become majority owned by its players as part of the proposed deal. PIF will provide interim financing, with BC Partners Credit and other stakeholders expected to provide funding post-bankruptcy.","As part of the proposed bankruptcy deal, the upstart golf venture is expected to be majority owned by its players.","https://image.cnbcfm.com/api/v1/image/108360036-1788900125453-gettyimages-2291856679-livmsm08232026_529.jpeg?v=1788903475&w=1920&h=1080","2026-09-08T20:56:18","https://www.cnbc.com/2026/09/08/liv-golf-chapter-11-bankruptcy.html","sports",{"_27":351,"_297":352,"_137":299,"_80":353,"_311":360,"_312":361,"_314":362},"fa13db3109c3834b78846138fa2d64bde011bf7dab825871dfb956a53ba4cbf4","e5679745f345ffe4aed0e51a8dc80e4666b190311f58d776acb6fcc1287708dda362143223bb36782c32816d4e66fb18fdf17c5acbd59b7199ef1a81c89b598c",[354,355,356,358,359],[244,343],[44,346],[304,357,39,306],"30023:9c41d1165a76eda7abb3db9d665e67fdd23320dd1a8c6a65ff40a65935d667cc:c528739f-640b-4035-a9a0-35c44ae183b0",[308,39],[140,360,39],"9c41d1165a76eda7abb3db9d665e67fdd23320dd1a8c6a65ff40a65935d667cc","LIV Golf files for Chapter 11 bankruptcy protection\nAs part of the proposed bankruptcy deal, the upstart golf venture is expected to be majority owned by its players.\n\n\nnostr:naddr1qvzqqqr4gupzp8zp6yt95ahd574m8kuave0x0lwjxvsd6x5vdfjl7s9xty6ave7vqqjxxdfj8qmnxwtx95mrgvrz956rqve494snjcfs95en2ce5x3sk2vfcxd3rq7x8shp ",1788936131,"LIV Golf has filed for bankruptcy protection as the upstart golf league faces a Saudi funding cliff and searches for new investment.\nThe golf venture — initially backed by Saudi Arabia's Public Investment Fund, or PIF — said Tuesday it has entered into a restructuring support agreement with BC Partner Advisors LP, the credit arm of private equity firm BC Partners. As part of the agreement LIV agreed to seek Chapter 11 protection in the U.S. Bankruptcy Court for the District of New Jersey.\nCNBC previously reported PIF was set to pull its funding from LIV at the end of the 2026 schedule. Earlier this year LIV launched an investor roadshow in an effort to raise up to $350 million from stakeholders to fund its operations.\nAs part of the proposed bankruptcy deal, for which LIV will need court approval, the venture is expected to be majority owned by its players. LIV remains in advanced talks with the players, it said in a Tuesday news release.\nPIF has agreed to provide $49.6 million in bankruptcy financing that will allow LIV to stay afloat during proceedings. Following the exit from bankruptcy protection, BC Partners Credit and other minority stakeholders are expected to provide financing.\n\"This process gives us the structure and time to pursue a landmark transaction and begin the next chapter of LIV Golf — one built around the fans, an innovative, player-first ownership model, and a part of the global golf ecosystem,\" CEO Scott O'Neil said in Tuesday's release. \"We are excited about what lies ahead and yet, there is still much to accomplish in the months ahead.\"\nIn June, amid reports that PIF funding could end even sooner than previously understood, O'Neil told CNBC that the organization had to trust that the sovereign wealth fund would continue to back the venture through the conclusion of the season.\nLIV had been positioned as a rival to the PGA Tour and beckoned high-profile athletes, in part thanks to hefty paychecks. By 2023 the league had agreed to merge with the PGA Tour, although a deal has yet to come to fruition.",[],"selectedArticleImage","rootArticleImageUrl","consensusHtml","tweets",[],"userSchema","perspectivesColumns","intro","relatedArticles",[284,342,320],"actionData","errors"]

LIV Golf Files for Chapter 11 Bankruptcy

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