LIV Golf files for bankruptcy following financial losses

LIV Golf has filed for Chapter 11 bankruptcy after suffering $5 billion in losses, according to recent filings. The league requires a $495 million loan from the Saudi Public Investment Fund to maintain its 2026 season, which will also necessitate the cancellation of two scheduled tournaments. Under the proposed restructuring with BC Partners Credit, CEO Scott O’Neil has 35 days to reach retention agreements with players who represent two-thirds of the league's outstanding debts. Agents for various LIV Golf players have already initiated inquiries with the PGA Tour regarding potential future eligibility. PGA Tour officials require proof of contract termination to avoid legal complications before considering any player applications for return. The bankruptcy court is expected to provide official documentation regarding which player contracts are officially voided.

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