The LIV Tour could be on the verge of filing for bankruptcy protection in the coming days, according to information provided to the Financial Times newspaper. This comes at the same time as the golf tour tries to find a financial solution to run its operations, albeit in a significantly more streamlined form.
Recently, Saudi Arabia's Public Investment Fund (PIF) announced that funding for the breakaway tour will end after 2026 and there have been reports that 90 percent of the tour's employees will be laid off.
According to the Financial Times, the bankruptcy application will likely be filed in the state of New Jersey in the US under a so-called Chapter 11 procedure.
This means that a company threatened with bankruptcy can, for a limited time, receive protection from creditors and continue operating.
