LIV Golf begins potential bankruptcy plans, Bloomberg News reports
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Saudi Arabia said in April that investing in the LIV Golf league no longer fit with its investment strategy.
PHOTO: GETTY IMAGES VIA AFP
- LIV Golf is preparing for a potential US bankruptcy filing if new funds are not secured, Bloomberg News reported.
- Saudi Arabia's PIF will cut LIV Golf funding after the 2026 season, forcing the league to seek new backers.
- LIV Golf claims a 100% revenue increase this season, confident its team model will attract investors despite concerns.
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LONDON - LIV Golf has begun laying the groundwork for a potential US bankruptcy filing if it fails to raise new funds, Bloomberg News reported on May 19, citing people familiar with the matter.
LIV Golf did not immediately respond when asked by Reuters to confirm the report.
Saudi Arabia’s Public Investment Fund, which has spent more than US$5 billion (S$6.4 billion) on LIV Golf since it launched in 2022, said in April that investing in the league no longer fit with its investment strategy.
The PIF’s decision to cut LIV Golf’s funding at the close of the 2026 season has left the breakaway circuit scrambling for new backers and raises questions about the future of its big-name players on lucrative contracts.
LIV has previously said it had posted a 100 per cent increase in revenue year-on-year this season and was convinced that the team golf model would be highly attractive to investors. REUTERS
