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, as the league seeks to survive without Saudi funding. The move came after the Public Investment Fund of Saudi Arabia ended its financial support at the conclusion of the 2026 season. LIV has reached a restructuring agreement with BC Partners to provide capital.

CEO Scott O'Neil stated that this process would enable the league to pursue a significant transaction and embark on a new chapter, with "LIV Golf 2.0" featuring players as majority owners in a reduced schedule. The new format will increase the field size from 57 to 75 players and introduce a 54-hole cut for the first time. O'Neil's plan aims to build the team concept around nationalities and continue targeting successful markets such as Australia, South Africa, and Asia.

However, the future of top players like Jon Rahm, Bryson DeChambeau, Dustin Johnson, and Cameron Smith remains uncertain.