LIV Golf files for Chapter 11 bankruptcy protection in New Jersey, as the breakaway tour seeks to restructure after losing key funding. Multiple outlets report the filing comes amid uncertainty about LIV’s ability to continue operating as it has, with some pointing to financial losses and contract-related liabilities as major issues.

Several sources say Saudi Arabia’s Public Investment Fund backed LIV at launch in 2022 but cut support in April, leaving the league to pursue a “next phase” or “LIV 2.0” plan. Reports also describe player contracts as a significant part of LIV’s liabilities and note amounts owed to leading golfers, including Jon Rahm and Bryson DeChambeau. The PGA Tour, according to Yahoo Sports and others, says it currently has no plans to create a pathway for LIV players to return. Other outlets emphasize LIV’s goal to survive in a smaller, restructured form, with some mentioning continued interest in future events such as a planned 2027 South Africa tournament.