LIV Golf filed for Chapter 11 bankruptcy in the United States on Tuesday, a development that could reshape professional golf’s landscape. According to the filing, approximately $45 million is owed to players. The bankruptcy stems from the removal of funding from Saudi Arabia’s Public Investment Fund (PIF), which has invested an estimated $5 billion in the LIV project to date.
Rory McIlroy, speaking at the Irish Open, suggested the situation will soon force traditional tours to make strategic decisions. “I would predict that you’ll see some guys leave,” McIlroy said. “I think that means other tours have decisions to make.” He noted that players currently under LIV contracts—including Jon Rahm, Tyrrell Hatton, and Cameron Smith—are likely to seek returns to the PGA Tour or DP World Tour when legally feasible, though some players may face career uncertainty if they are less attractive to those tours.
While sources familiar with the situation state contracts have not yet been breached, the terms in place with star players are now unaffordable for LIV. Contracts will either be renegotiated or cancelled. McIlroy suggested that without LIV’s original Saudi backing, the tour’s appeal has diminished significantly. “LIV at the start looked a lot more attractive than what LIV 2.0 might be from a financial standpoint,” he said.
LIV has announced plans to operate as a smaller entity in 2027, with 10 events worth $10 million each and 75-man fields, backed by investment firm BC Partners. The bankruptcy paperwork indicates LIV has secured $300 million in sponsorship contracts from 2027 through 2029 with “blue chip partners.” The PIF intends to loan LIV close to $50 million to assist with the bankruptcy process.
Some players have signaled they may remain with LIV’s restructured form. Bryson DeChambeau has been widely tipped to stay, while Lee Westwood suggested he could remain, though he noted that everyone’s situation differs based on career stage and available opportunities.
McIlroy expressed optimism that the situation could strengthen professional golf overall, particularly the DP World Tour. “If they are incorporated into these tournaments, that makes them more competitive,” he said, referring to the potential influx of LIV players to traditional tours.
Key facts
- LIV Golf filed for Chapter 11 bankruptcy with approximately $45 million owed to players
- The bankruptcy follows the removal of Saudi Arabia’s Public Investment Fund backing after a $5 billion investment
- LIV plans to operate with 10 events worth $10 million each in 2027 with BC Partners funding
- McIlroy predicts top LIV players like Jon Rahm, Tyrrell Hatton, and Cameron Smith will seek to return to PGA and DP World Tours
- The PIF plans to loan LIV close to $50 million to assist with the bankruptcy process