LIV Golf reportedly prepares for bankruptcy filing

LIV Golf may file for bankruptcy protection as soon as the week of September 7, the Financial Times reported on Monday, citing people briefed on the negotiations. The potential filing could take place in the federal district court of New Jersey, according to the same report.

The news comes as the Saudi-backed league struggles to secure funding for its next phase. Last week, LIV Golf announced it had laid off most of its workforce while continuing to seek financial backing, with support from Saudi Arabia's Public Investment Fund (PIF) set to expire.

Player settlements and funding challenges

LIV Golf has recently sent settlement offers to current players who are owed millions in guaranteed payments beyond 2026, with initial offers amounting to only a few cents on the dollar, the Financial Times reported. The report attributed the league's financial difficulties partly to the Saudi sovereign wealth fund's reluctance to provide additional funding.

According to the Financial Times, PIF is expected to provide a bankruptcy loan of less than $100 million, but without committing additional funding. PIF has poured more than $5 billion into LIV Golf since the breakaway circuit launched in 2022, but said in April it would cut funding at the close of the league's 2026 season.

The league is reportedly in negotiations with private capital firm BC Partners to help keep it afloat. However, BC Partners is waiting to see how LIV Golf and PIF resolve player payments and the bankruptcy structure before committing, according to the report.

League's troubles mount

LIV Golf canceled two events during the 2026 season and informed its workforce last week that it was scaling back operations and terminating employees. Multiple vendors have also filed lawsuits seeking payments owed for services, according to the report.

The league is also struggling to secure commitments from enough players to move ahead with "LIV 2.0," a slimmed-down version planned for 2027, which has made it even more challenging to secure funding, the Financial Times reported.

The Financial Times report has not been independently verified, and neither LIV Golf nor PIF has publicly commented on the matter.