LIV Golf files for US bankruptcy protection but reveals 2027 plans as players face uncertain future

LIV Golf has filed for bankruptcy protection in the United States but still intends to launch a new version of the league from next year.

On Tuesday the golf league announced it had entered into bankruptcy protection in an attempt to restructure after Saudi Arabia withdrew its financial backing.

Saudi Arabia's Public Investment Fund (PIF) announced earlier this year they would not bankroll the league beyond the 2026 campaign, having spent over $5bn (£3.6bn) over five years, leaving the circuit searching for fresh investment in recent months.

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LIV Golf cut around 90 per cent of their staff after the conclusion of the season, as talks continued over their long-term future, with BC Partners later named as the proposed new investors.

A statement from the league on Tuesday confirmed they had entered bankruptcy protection, while Sky News understands LIV Golf are entering talks with players about whether they take part in the new iteration or elect to leave.

LIV Golf say a Chapter 11 petition has been filed to "preserve the company's business as a going concern through an innovative player-first ownership model".

In a statement on Tuesday, LIV Golf said the league is expected to be majority-owned by its players, with whom it "remains in advanced discussions".

LIV Golf chief executive Scott O'Neil said: "The people of LIV Golf, led by the players, have continued to show incredible resilience, commitment, and a shared belief in what we are building. Thanks to their tireless work, LIV Golf has created a foundation to entertain and inspire the next generation of global golf fans around the world.

"This process gives us the structure and time to pursue a landmark transaction and begin the next chapter of LIV Golf - one built around the fans, an innovative, player-first ownership model, and a part of the global golf ecosystem. We are excited about what lies ahead and yet, there is still much to accomplish in the months ahead.

"We believe deeply in LIV Golf's future, the opportunity in front of us, and the people who will help us realise it. We are grateful to our players, the incredible team at LIV Golf, our board, BC Partners, and our partners all over the world standing tall with us, and we thank them for their belief in our next chapter. A special thank you to Ducera Partners who drove this investment process. We will not rest until we deliver on LIV Golf's full potential."

What are LIV Golf's plans for next season?

LIV Golf remain hopeful of launching a new iteration of the league in 2027, with events planned in "places like" Australia, South Africa, Mexico, England, Hong Kong and the United States.

Their proposal includes expanding fields to 75 players, with cuts and additional pathways - including Monday qualifiers - added to their events, with more teams embracing national identities.

"I have often said that our role in golf should be to complete, not compete," O'Neil added. "I believe that more strongly today than ever. I know that the next phase of LIV Golf will be an important part of a healthier global golf ecosystem.

"It will create more opportunity for players, bring elite golf to more parts of the world, and give teams and players a real stake in the future they are building.

"Transitions are rarely easy, but they are powerful when you know where you are going. And we do."

What next for LIV Golf's players?

LIV Golf's announcement came just hours after Jon Rahm told reporters he still had a contract that he was "more than willing to fulfil", with the Spaniard still reportedly having more than $100m remaining on the multi-year contract signed at the end of 2023.

Rahm was one of three players to reject the PGA Tour's Returning Player Program introduced earlier this year, with Bryson DeChambeau and Cameron Smith also electing against taking the same pathway back that Brooks Koepka accepted.

All three past major champions are among LIV Golf's largest creditors, with Dustin Johnson understood to be another, while PGA Tour chief executive Brian Rolapp said at the Tour Championship there was no plan to reintroduce the program for next season.

There is still plenty to be determined, but It could leave them all facing a similar journey back to the PGA Tour that Patrick Reed currently faces. The Masters champion is set for a card via finishing inside the top 10 of the DP World Tour's Race to Dubai rankings.

Many of LIV Golf participants were still active DP World Tour members and could elect to play their next season, although it remains unclear whether players would be able to compete on both circuits - like has been seen in recent years - going forward.

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