To transition to what the breakaway golf league is calling “an innovative player-first ownership model,” LIV GOLF filed for Chapter 11 in the United States Bankruptcy Court for the District of New Jersey on Tuesday.
“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,” LIV Golf CEO Scott O’Neill said in a statement. “We are excited about what lies ahead and yet, there is still much to accomplish in the months ahead. We believe deeply in LIV Golf’s future, the opportunity in front of us, and the people who will help us realize it. We are grateful to our players, the incredible team at LIV Golf, our Board, BC Partners, and our partners all over the world standing tall with us, and we thank them for their belief in our next chapter.”
BBC Sport reports the move grants free agency to every LIV golfer, even those under multi-year deals.
According to the Chapter 11 petition on the docket available through PACER, nine of LIV’s top 10 unsecured creditors are golfers with Jon Rahm and Bryson DeChambeau at numbers one and two, respectively.
Founded in 2021, LIV started play in 2022, backed by Saudi Arabia’s Public Investment Fund. With word breaking this past spring that the PIF was pulling its funding after the 2026 season, the future of the tour came into doubt. The withdrawal of financial backing came after the high-profile departures of Brooks Koepka and Patrick Reed back to the PGA Tour.
LIV Golf wrapped up its 13-event 2026 schedule last month in Indianapolis. A season-ending event in Michigan set for the final weekend of August was cancelled only days before it was set to begin.
