LIV Golf Files for Bankruptcy | US News

LIV Golf, the flashy Saudi-backed golf league that shook up the sport with billions in funding, has filed for bankruptcy—liabilities between $500M and $1B, assets between $100M and $500M. After pouring over $5B into the league since 2022, the Saudi Public Investment Fund is pulling out after the 2026 season, leaving LIV scrambling for a lifeline. A new plan proposes players becoming majority owners to replace guaranteed pay, aiming to restructure debt and survive beyond 2026 without relying on Riyadh’s cash. The PIF even tossed in a $49.6M loan just to cover bankruptcy costs—not operations. Jon Rahm, owed $7.4M and still holding a $100M contract, says he’ll honor his LIV 1.0 commitment, but the future remains uncertain. Once a bold challenge to the PGA Tour, LIV’s glittering debut now looks like a cautionary tale of unsustainable hype and overreliance on foreign investment.

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