LIV Golf has filed for Chapter 11 bankruptcy protection, a move that comes as the league faces a critical funding cliff from Saudi Arabia’s Public Investment Fund (PIF). The upstart golf league has secured a restructuring agreement with BC Partner Advisors LP and plans to seek court approval for a deal that would see players become the majority owners.
This strategic filing aims to provide LIV Golf with the necessary time and structure to secure new investment and redefine its future within the global golf landscape, potentially moving towards a player-centric ownership model.
LIV Golf Files for Chapter 11 Bankruptcy Protection Amid Funding Woes
Key Points:
LIV Golf has filed for Chapter 11 bankruptcy protection and entered into a restructuring support agreement with BC Partner Advisors LP.
The golf league faced a significant Saudi funding cliff earlier this year and launched an investor roadshow to raise up to $350 million.
Under the proposed bankruptcy deal, which requires court approval, LIV Golf is expected to be majority owned by its players.
LIV Golf has officially filed for bankruptcy protection, signaling a major shift for the upstart golf league as it grapples with the imminent end of Saudi funding and the urgent need for new investment. The league, initially a prominent venture backed by Saudi Arabia's Public Investment Fund (PIF), announced Tuesday that it has entered into a restructuring support agreement with BC Partner Advisors LP, the credit arm of private equity firm BC Partners.
This move will see LIV Golf seek Chapter 11 protection in the U.S. Bankruptcy Court for the District of New Jersey. The league's financial situation became precarious following previous reports that the PIF was set to withdraw its funding at the conclusion of the 2026 season. In response, LIV Golf initiated an investor roadshow earlier this year with the goal of raising as much as $350 million from stakeholders to ensure its continued operations.
Jon Rahm of Legion XIII gets ready to putt on the 12th green during day four of LIV Golf Indianapolis at The Club at Chatham Hills in Westfield, Indiana, Aug. 23, 2026. (Michael Miller | ISI Photos | Getty Images)
As part of the proposed bankruptcy agreement, which is subject to court approval, LIV Golf is slated to become majority owned by its players. The league confirmed it is in advanced discussions with the players regarding this new ownership structure. To navigate the bankruptcy proceedings, the PIF has committed to providing $49.6 million in financing, which will sustain LIV Golf during this transitional period. Following the exit from bankruptcy protection, BC Partners Credit and other minority stakeholders are expected to inject further financing.
LIV Golf CEO Scott O'Neil expressed optimism about the future in a statement Tuesday: "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."
The league's journey has been marked by its ambitious rivalry with the PGA Tour, attracting top talent with substantial prize money. Despite an earlier agreement in principle for a merger with the PGA Tour in 2023, that deal has yet to be finalized.
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