LIV Golf files for bankruptcy and releases players from contract obligations

LIV Golf filed for Chapter 11 bankruptcy protection in the United States, allowing its professional golfers to terminate their current contracts. The move follows the decision by the Public Investment Fund of Saudi Arabia to cease financial support for the circuit earlier this year. With the 2026 season officially over following the cancellation of the team championship in Detroit, players including Cameron Smith, Jon Rahm, Marc Leishman, Elvis Smylie, Lucas Herbert, and Matt Jones face an uncertain future. While the league plans a transition to a player-owned model with support from BC Partners, participants are under no legal obligation to remain. A bankruptcy court will now oversee the reorganization process and determine how outstanding debts, including player contracts, are addressed. The court's review of the reorganization plan will dictate whether the league can continue or must liquidate assets.

• 12:15 PMYahoo Sports — Cameron Smith Faces Exit as LIV Golf Files Bankruptcy