LIV Golf is pressing ahead with plans to pitch a new business model to potential investors despite reports the league is laying groundwork for potential bankruptcy in the U.S. if it doesn't secure fresh financing beyond this season. CEO Scott O'Neil is seeking $250 million to keep operations alive, with projections that the league could turn a profit within two years — a dramatic revision from his previous 10-year estimate.

The trouble stems from Saudi Arabia's Public Investment Fund announcing on April 30 that it will stop funding the breakaway circuit after the current season. $5 billion has already been poured into the league over five seasons, with the PIF's total investment expected to reach more than $6 billion by year's end. Much of that money went to guaranteed contracts worth over $100 million for stars like Jon Rahm, Bryson DeChambeau, and Dustin Johnson.

Player implications are stark. Rahm admitted he has multiple years left on his contract and doesn't see many ways out. DeChambeau's deal expires at season's end, and he warned the PGA Tour would impose severe penalties if he tried to return. He hinted he'd rather grow his YouTube channel than play restricted events.

LIV Golf is also weighing relocating its headquarters to the U.S., where bankruptcy restructuring laws are more favorable. A league spokesperson confirmed conversations with strategic partners are underway, but the clock is ticking on securing capital before the PIF funding expires.