LIV Golf is preparing to file for bankruptcy protection as early as next week, according to people familiar with the situation.
The entity would use a Chapter 11 filing to implement a transaction that will see players have control of the league, said the people who weren’t authorized to speak publicly about the process.
A LIV spokesperson didn’t have a comment on the potential timing of a filing, but said any such move could pave the way to the league’s next phase by resolving its current obligations within the U.S. legal system.
The league’s future has been in doubt since earlier this year when Saudi Arabia’s Public Investment Fund withdrew its backing. Following a months-long search for capital to sustain the competition, LIV potentially secured a lifeline through BC Partners’ credit arm, Bloomberg News previously reported.
LIV declined to comment on potential minority investors. Under a new structure, the league would be majority-owned by its players, the spokesperson said.
In just a few years, LIV fractured professional golf and altered the sport’s economics by luring stars away from the PGA Tour with giant contracts. The league cost the PIF an estimated US$5 billion.
The PIF declined to comment. The Financial Times reported on the timing of a potential filing earlier.
With assistance from Randall Williams
Bloomberg.com
Saudi-backed LIV Golf may file for bankruptcy next week
2026-08-31 18:19:47
