LIV Golf Declares For Bankruptcy, Plans A Return To Play In ’27
Thursday, September 10, 2026 at 07:47PM By Barry Janoff
September 8, 2026: Beleaguered golf circuit LIV Golf said it has filed for Chapter 11, a move that seemed inevitable after losing its billions of dollars in financial backing earlier this year from Saudi Arabia's Public Investment Fund,
However, CEO Scott O’Neil said the organization is putting together new financial backing and plans a return to the course in 2027.
“LIV Golf has entered a court-supervised restructuring process that provides us with the time and framework to address previous financial obligations and complete a transaction that will make the League’s next phase a reality,” O’Neil wrote in a letter posted to the circuits Web site.
“Put simply, this process is designed to build a stronger and more sustainable future for LIV Golf.”
PIF has invested more than $5 billion into LIV Golf since its first tournament in June 2022 and was spending $100 million per month this year, according to ESPN. “The league indicated it had between $100 million and $500 million in assets and $500 million to $1 billion in liabilities.”
PIF will provide $49.6 million in financing, subject to court approval, according to ESPN.
O’Neil wrote that “Our objective is not simply to preserve what we have. It is to make it better.”
He cited that “Plenty of well-known companies have taken this path before us, including Marvel Entertainment, Delta Airlines, and Caesars Entertainment, along with sports franchises like the Los Angeles Dodgers, Pittsburgh Penguins, and Leeds United F.C. We are entering this process with a clear plan and the support of BC Partners, well-capitalized investors with deep experience in sports and entertainment.”
LIV Golf said it intends to resume global, team-based competition in 2027 under new ownership, subject to Court and relevant stakeholder approval.
"I know that the next phase of LIV Golf will be an important part of a healthier global golf ecosystem."
No definitive decisions regarding the 2027 schedule or individual events are being shared at this time.
According to O’Neil, “There is still work ahead, but I want you to know where we are going.
• We intend to continue competing across five continents with events you’ve come to expect in places like Australia, South Africa, Mexico, England, Hong Kong, and the United States.
• We intend to expand our fields to 75 players, introduce a cut, and create additional pathways for players to earn their way into LIV Golf, including Monday qualifiers.
• We will continue to evolve the competitive format with our players and partners to expand access to the biggest stages in golf.
“Above all, we will continue working to make professional golf bigger, better attended, and more globally connected.
“I have often said that our role in golf should be to complete, not compete,” wrote O’Neil.
“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.”
Off The Green: Saudi Arabia’s PIF Ending Financial Support For LIV Golf
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