LIV Golf, the professional men’s golf tour backed by Saudi Arabia’s Public Investment Fund, has entered Chapter 11 bankruptcy protection in the United States. The move comes after Saudi Arabia ended its funding of the league following the 2026 season, after investing more than five billion dollars since its launch in 2022. The bankruptcy filing was made in the District of New Jersey with the assistance of BC Partners’ credit business.
LIV Golf CEO Scott O’Neil said the goal is to shift toward a new ownership model where players hold majority stakes in the organization, according to fox59.com. He emphasized that the people of LIV Golf, led by its players, have shown strong resilience and belief in rebuilding the tour. O’Neil announced that the new version of LIV Golf would feature players as majority owners and reduce the number of events in a season.
In a letter to fans, he said the new structure would expand the field from 57 to 75 players and introduce a 54-hole cut for the first time. The league also plans to continue hosting events in markets like Australia, South Africa, and Asia. However, the new version of LIV Golf will be a much smaller operation compared to what it was when it started in June 2022.
The original tour had offered large signing bonuses to attract top players from the PGA Tour, which led to significant spending. The financial struggles of LIV Golf became clear in 2026, with canceled events and job cuts. Scott O’Neil said the restructuring process will allow for a new chapter of LIV Golf built around fans and player ownership, according to a report from Sky Sports.
He added that the league is grateful to its players, staff, board members, and international partners who supported the effort. O’Neil also mentioned that he believes LIV Golf’s role in golf should be to complete, not compete. Several major players are listed as unsecured creditors of LIV Golf, with some owed more than five million dollars, CBS Sports reported.
Notable among them are Jon Rahm, Bryson DeChambeau, and Dustin Johnson, each owed unsecured claims north of five million dollars. Other players such as Cameron Smith, Tyrrell Hatton, and Bubba Watson are also owed more than $3 million. O’Neil said the future of LIV Golf includes tournaments on five continents and a field of players expanding to 75.
Tournaments will feature both cuts and Monday qualifiers, with music continuing to be part of the competition. He said there are many things still to be determined about how the competition will evolve in the coming months. Some of the top players, including Rahm and DeChambeau, may be able to leave LIV Golf as part of the restructuring.
The PGA Tour has not announced a new return pathway for these players after its Returning Member Program closed in February. Players who leave LIV Golf may have to qualify for PGA Tour events using traditional qualifying procedures. Jon Rahm, one of the top players in golf, rejected the PGA Tour’s Returning Player Program earlier this year.
Bryson DeChambeau and Cameron Smith also chose not to take the return option, similar to Rahm. These players may now face a difficult path back to the PGA Tour, similar to what Patrick Reed is experiencing. The bankruptcy filing allows LIV Golf time and structure to pursue a new investment plan.
The league is working with players to determine whether they will participate in the restructured version of LIV Golf. Ducera Partners are said to have played a key role in driving the investment process for the new version of LIV Golf. The league’s future remains uncertain, but O’Neil expressed confidence in the direction it is heading.
IMAGE: Paul Casey tees off at Trump National in Bedminster, NJ, while competing for LIV Golf. Casey placed 6th at the LIV Golf Invitational Bedminster. JazzyJoeyD CC4