LIV Golf files for bankruptcy, but hope remains for 2027 South Africa event

LIV Golf, the former breakaway golf tour, filed for bankruptcy protection in a New Jersey court on Tuesday, according to court documents. The financial troubles stem from the tour owing between $500 million and $1 billion to over 1,000 creditors. Among the creditors are star players like Bryson DeChambeau and Jon Rahm, for whom LIV owes more than $5 million each in past-due payments.

The filing also reveals that the Saudi Arabian investors who previously backed the tour have withdrawn, leaving LIV to seek a new financial footing. The tour's CEO, Scott O'Neil, stated that the company aims to restructure and return in a new form, possibly with a player-first ownership model. LIV intends to host tournaments across five continents, including Australia, South Africa, Mexico, England, Hong Kong, and the US, with a reduced schedule and prize money.

The tour plans to expand its fields to 75 players and introduce new pathways for players to earn their way into the league. However, the future of LIV and its top players remains uncertain as they navigate the legal proceedings and potential court battles over the millions owed to them.