LIV Golf to liquidate after rescue deal collapses

LIV Golf’s future suddenly in jeopardy after a major financial setback.

The breakaway league announced plans to wind down its operations.

An attorney told a U.S. Bankruptcy Court judge on Thursday that LIV Golf could not secure the financial backing or player commitments needed for its proposed LIV 2.0 model.

Matthew Williams, the attorney representing LIV Golf, explained the situation to the court.

“The debtors were ultimately unable to bring the key parties to a fully consensual arrangement that would have supported a financially viable LIV 2.0 league,” Williams said.

As a result, the organization will begin winding down its operations.

LIV Golf is expected to file a new Chapter 11 bankruptcy plan on Monday.

The league’s financial troubles have been building for months.

Saudi Arabia’s Public Investment Fund withdrew its funding in April 2026.

Since launching in 2022, LIV Golf has reportedly spent more than $5 billion trying to establish itself as a major competitor to the PGA Tour.

The league initially filed for bankruptcy in September 2026.

Its attempts to secure fresh investment and develop a new operating model struggled to gain momentum.

BC Partners Credit had reached a tentative agreement to provide up to $300 million in funding for LIV 2.0.

That offer was withdrawn after the league failed to convince enough players to commit to its proposed future.

The Financial Times reported that approximately 30 players had committed to LIV Golf’s new vision.

That number was not enough to satisfy the investors.

Major names have walked away from the league.

Jon Rahm, Sergio Garcia and Tyrrell Hatton reportedly departed.

Patrick Reed and Brooks Koepka had already left after their contracts expired.

LIV Golf sent shockwaves through the sport when it launched in June 2022.

The league mixed star power with past-their-prime veterans who signed lucrative contracts for guaranteed paydays.

The PGA Tour refused to let its members compete in LIV events.

The Tour suspended defecting golfers, including major champions Bryson DeChambeau, Dustin Johnson, Brooks Koepka and Phil Mickelson.

Those suspensions triggered a wave of bitter legal battles.

DeChambeau, Mickelson and others filed an antitrust lawsuit accusing the PGA Tour of using monopoly power to penalize independent contractors.

Critics decried LIV Golf as a vehicle for Saudi Arabia to improve its reputation and deflect criticism of its human rights record.

The Saudi government denies accusations of human rights abuses.

In June 2023, the PGA Tour and the Saudi fund stunned the golf world by announcing a framework to form one unified commercial entity and end the litigation.

As talks stalled, the PGA Tour enlisted President Donald Trump in the hope he could broker a deal.

Trump, an avid golfer whose courses have hosted multiple LIV events, tried to facilitate an agreement.

The PGA Tour ultimately rejected the Saudi fund’s offer to invest $1.5 billion.

The condition was that LIV Golf would remain intact and fund governor Yasir Al-Rumayyan would co-chair the PGA Tour Enterprises board.

In late April, after pouring more than $5 billion into LIV Golf, the Saudi fund said the circuit no longer fit its investment strategy.

LIV Golf’s board special committee, through Gene Davis and Jon Zinman, issued a statement.

“In light of the current circumstances, we believe shifting toward an orderly wind-down is the most responsible path forward for the League at this time,” Davis and Zinman said.