LIV Golf, the breakaway circuit established in 2021 with its inaugural season following in 2022, has filed for bankruptcy protection in the United States. This move is part of an effort to restructure the organization for a planned “new era” under the banner of LIV 2.0, which aims to operate on a more sustainable business model next year.
The financial situation is significant, with court filings indicating that LIV holds assets valued between $100 million (£74 million) and $500 million (£370 million), while its liabilities range from $500 million to $1 billion (£370 million to £739 million). Furthermore, the organization currently owes at least $45 million (£33 million) to 14 current and former players.
Under the restructuring, golfers—including high-profile stars such as Jon Rahm and Bryson DeChambeau—are no longer required to fulfill their existing contracts and may choose to depart before the launch of the new iteration. While many are expected to seek a return to the PGA Tour and the DP World Tour, the path back is complicated by the deep-seated acrimony and the $5 billion (£3.7 billion) investment that has divided the sport since 2021.
The DP World Tour has acknowledged receiving a “high volume” of interest from players looking to return. A spokesperson confirmed that the organization is currently evaluating the terms under which these golfers could be accommodated, provided they are released from third-party contractual obligations and agree to adhere to standard membership regulations.
“Our tournament committee has approved the process we intend to follow and we expect further enquiries in the days ahead,” the spokesperson added. Despite this potential pathway, it remains unclear how many of the current LIV roster will ultimately choose to stay with the new venture or attempt to rejoin the traditional tours. The report also notes that its golfers, including star names like Bryson DeChambeau and Jon Rahm, can now opt to leave, rather than being obliged to see out their contracts in LIV 2.0 which is aiming to launch next year.
