LIV Golf and its related entities voluntarily filed for Chapter 11 protection in the U.S. Bankruptcy Court of New Jersey on Tuesday. The league reported assets between $100 million and $500 million and liabilities from $500 million to $1 billion. Jon Rahm ($7.5 million), Bryson De Chambeau ($5.7 million), Dustin Johnson ($5.5 million), Cameron Smith ($4.8 million), Tyrrell Hatton ($3.4 million), and Brooks Koepka ($1.7 million) are among its largest unsecured creditors.

LIV Golf said it entered a restructuring support agreement with BC Partners Advisors and plans to return to competition in 2027, aiming for majority player ownership. The Saudi Arabia Public Investment Fund (PIF) will provide $49.6 million in financing, subject to court approval, after previously investing over $5 billion. PIF governor Yasir Al-Rumayyan stepped down as chairman after funding ceased.

The league canceled events in New Orleans and Michigan, cut purses, and faces lawsuits from unpaid vendors, including Louisiana, which claims $1.2 million owed. LIV Golf seeks recognition of its U.S. proceedings in England and Wales to protect international assets. CEO Scott O'Neil stated the restructuring aims to build a sustainable model with deeper player alignment, team golf at its core, and expanded fields to 75 golfers via Monday qualifiers.

Events are planned for Australia, South Africa, Mexico, England, Hong Kong, and the U.S.