{
  "id": 4700352,
  "title": "Saudi-backed LIV Golf preparing for bankruptcy filing",
  "url": "https://urgent.news/2026/08/31/saudi-backed-liv-golf-preparing-for-bankruptcy-filing",
  "topic": "culture",
  "section": "Culture",
  "published": "2026-08-31T19:02:15.000Z",
  "source": {
    "name": "Middle East Eye",
    "slug": "middle-east-eye",
    "url": "https://www.middleeasteye.net/news/saudi-backed-liv-golf-preparing-bankruptcy-filing"
  },
  "original_language": "en",
  "account": "Saudi-backed LIV Golf is reportedly preparing for bankruptcy filing as early as next week, according to the Financial Times. The financial crisis stems from the kingdom's sovereign wealth fund, the Public Investment Fund (PIF), refusing to provide additional funding to the struggling golf tour. LIV Golf had previously secured a multibillion-dollar investment from the PIF, but Saudi Arabia indicated in the spring that it would withdraw its investment. The tour's chairman, Yasir al-Rumayyan, who is also the governor of the PIF, is expected to resign. LIV Golf has sent settlement offers to players who were promised millions in guaranteed payouts, but now those payouts have been drastically reduced to just a few cents on the dollar. The tour has incurred losses in excess of $1.1 billion outside of the US and likely several billion dollars in the US since its establishment. Despite being accused of backing high-risk projects, the Saudi government has recently cancelled or scaled down several investments, including the Mukaab, a massive cube-shaped structure in Riyadh, and plans for a desert ski resort and an artificial lake.",
  "summary": "Saudi-backed LIV Golf preparing for bankruptcy filing Submitted by MEE staff on Mon, 08/31/2026 - 19:39 Settlement offers sent out to players after Saudi Arabia cuts its financial support for the upstart golf tour Supporters gather ahead of the start on the first day of the LIV Golf South Africa tournament at The Club in Johannesburg's Steyn City, on 19 March 2026 (Phill Magakoe/AFP) Off Saudi…",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 5,
    "also_reported_by": [
      {
        "outlet": "Financial Times",
        "title": "LIV Golf prepares for bankruptcy filing in September",
        "url": "https://urgent.news/2026/08/31/liv-golf-prepares-for-bankruptcy-filing-in-september",
        "published": "2026-08-31T04:00:28.000Z"
      },
      {
        "outlet": "Channel News Asia",
        "title": "LIV Golf prepares for bankruptcy filing in September, FT reports",
        "url": "https://urgent.news/2026/08/31/liv-golf-prepares-for-bankruptcy-filing-in-september-ft-reports",
        "published": "2026-08-31T04:14:47.000Z"
      },
      {
        "outlet": "Semafor",
        "title": "Saudi Arabia's LIV Golf tournament faces bankruptcy",
        "url": "https://urgent.news/2026/08/31/saudi-arabias-liv-golf-tournament-faces-bankruptcy",
        "published": "2026-08-31T10:48:56.000Z"
      },
      {
        "outlet": "Financial Post",
        "title": "Saudi-backed LIV Golf may file for bankruptcy next week",
        "url": "https://urgent.news/2026/08/31/saudi-backed-liv-golf-may-file-for-bankruptcy-next-week",
        "published": "2026-08-31T18:19:47.000Z"
      }
    ]
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}