Back in late August, the Financial Times reported that a bankruptcy filing was under way, information that the tour has now confirmed in a press release. This involves a so-called Chapter 11 procedure, which means that a company threatened with bankruptcy can receive protection from creditors for a limited period of time.
Recently, Saudi Arabia's Public Investment Fund (PIF) announced that funding for the breakaway tour will end after 2026.
Closing the LIV tour does not seem to be an option. The plan is to continue organising competitions around the world and to expand with more players. The hope is that there will be tournaments on the tour in 2027.
“Simply put, the process is designed to build a stronger and more sustainable future for LIV Golf,” says CEO Scott O'Neil.
What do you think?