LIV Golf files for bankruptcy protection as it tries to survive in a smaller version

LIV Golf has filed for Chapter 11 bankruptcy protection in New Jersey, owing over $500 million. This move aims to revive the league without Saudi funding, which abruptly ended its financial support after the final event of the 2026 season. The restructuring plan, led by BC Partners, will give LIV the capital it needs to pursue a new transaction and start anew.

CEO Scott O’Neil announced that "LIV Golf 2.0" will have a reduced schedule with players as majority owners. The league plans to expand the field size from 57 to 75 players and introduce a 54-hole cut at the start. O’Neil also mentioned the team concept would be built around nationalities, continuing to tap successful markets in Australia, South Africa, and Asia.

However, the new version is expected to be far different from LIV's previous version, which saw huge signing bonuses for top players and excessive spending exceeding $5 billion. The future of major stars like Jon Rahm and Bryson DeChambeau remains uncertain, as Rahm is still playing under LIV 1.0's contract.