LIV Golf Faces Potential U.S. Bankruptcy After Saudi Funding Pullout

LIV Golf is preparing a U.S. Chapter 11 filing if it cannot raise capital before the season ends in late August 2026, after the Saudi Public Investment Fund (PIF) announced it will cease funding after that season.

Sports Illustrated

Since its 2022 launch, LIV Golf has relied on the PIF, which has contributed $5-$8 billion. The money funded contracts for stars such as Bryson DeChambeau, Jon Rahm, Phil Mickelson and Dustin Johnson, plus $30 million purses and about $40 million per-event costs.

New York Post

CEO Scott O’Neil leads the investor search; PIF governor and LIV chairman Yasir Al-Rumayyan announced his departure. Contracted players include DeChambeau, Rahm, Brooks Koepka and Patrick Reed, whose salaries depend on league financing.

Reuters

The league seeks up to $250 million in equity, with a $150 million alternative tied to team-sale proceeds and a new media-rights deal. LIV runs 13 franchise teams of four players each.

Sports Illustrated

The PIF said its investment “no longer fit with its investment strategy.” LIV Golf has not confirmed the bankruptcy report. O’Neil told reporters the league has heard from “private-equity, family-office and high-net-worth” investors and that “it’s still early” in fundraising. Advisers are drafting a plan and stress-testing Chapter 11.

Reuters

Critics view LIV Golf as a Saudi tool to improve its image amid human-rights concerns, and investors cite the league’s ties to the Saudi government as a deterrent.

Sports Illustrated

DeChambeau answered a contract-risk question with “Your guess is as good as mine.” Rahm said he has “faith in the work that they’re doing” and trusts the league to devise a viable plan.

Heavy

Sources differ on the PIF outlay—estimates range $5 billion to $8 billion—and on the funding target, cited as $250 million or $150 million. While Chapter 11 is repeatedly mentioned, one source notes a possible Chapter 7 liquidation, yet no definitive plan is public.

Sports Business Journal

• “It was a split between private equity, family office and then your traditional like high net worth — you probably know who they are, the ?guys who invest in sports and sports teams. So that’s been really positive.” — Scott O’Neil, CEO, LIV Golf

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• “It's still early. We haven't gotten to market yet. We haven't finalized our business plan. We're still picking and prodding. We have a good sense at this point... we know where we're going, and we're just going to tighten the screws.” — Scott O’Neil, CEO, LIV Golf

Reuters

• “Your guess is as good as mine.” — Bryson DeChambeau, LIV Golf player

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• “He said, “Out of the few talents I have in my life, fixing a business is not one of them.” — Jon Rahm, LIV Golf player

Heavy

LIV Golf will meet potential investors, including DeChambeau and Rahm, in the coming weeks. If $250 million is not secured by early October, the league may file Chapter 11 and cease operations after the August 30 team championship.

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