LIV Golf Abandons Relaunch and Begins Winding Down

LIV Golf is shifting from a planned restructuring to winding down its operations, a lawyer for the organization said at a bankruptcy court hearing in New Jersey on November 5. The league will not move ahead with its proposed LIV 2.0 plan, Matthew Williams said, and will instead seek to maximize the value of its business as it closes down.

The decision follows the loss of funding from Saudi Arabia’s Public Investment Fund, which said in April it would stop financing LIV after the 2026 season. The league has spent more than $5 billion since launching in 2022 and filed for bankruptcy on September 8.

LIV had hoped to attract new investors for a relaunch featuring player equity and prize money. But several prominent golfers, including Tyrrell Hatton, Jon Rahm, Louis Oosthuizen and Sergio Garcia, have said they will leave. Brooks Koepka departed earlier this year, while Patrick Reed did not extend his contract and is positioned to rejoin the PGA Tour in the coming year based on his European results.

LIV’s final event took place in Indianapolis in August, where Michael La Sasso won. He did not advance beyond the second stage of European tour qualifying last week. The organization’s winding-down decision comes as its efforts to secure a future beyond Saudi funding have failed.