LIV Golf is winding down operations rather than proceeding with a planned "LIV 2.0" relaunch, an attorney for the organization told a bankruptcy court in New Jersey on Thursday. "The debtors are not currently proceeding with the LIV 2.0 plan," said Matthew Williams of Gibson Dunn. "Instead, the debtors are toggling to a value-maximizing wind-down in their business."
The Saudi-backed league, which spent more than $5 billion since its 2022 launch, lost funding from Saudi Arabia's Public Investment Fund in April. The PIF said it would no longer pay for LIV Golf after the 2026 season. LIV filed for Chapter 11 bankruptcy on Sept. 8.
Top players have departed in recent months. Jon Rahm, Sergio Garcia, Louis Oosthuizen and Tyrrell Hatton said they would not stay with the league, while younger players such as David Puig and Tom McKibbin also left. Brooks Koepka exited his deal earlier this year, and Patrick Reed chose not to extend his contract.
The European tour, commercially known as the DP World Tour, dealt a further blow by stating that any player who signed with LIV 2.0 would be ineligible for membership, effectively barring them from the Ryder Cup. CEO Guy Kinnings told The Scotsman the tour must protect itself against an entity that spent over $7 billion with an aim to "destroy the DP World Tour."
LIV previously held an event in Las Vegas during Super Bowl week in 2024 at Las Vegas Country Club, where Dustin Johnson won the individual title. The league's final event took place in August in Indianapolis, won by Michael La Sasso.
Sources: Las Vegas Review-Journal
Original reporting: Las Vegas Review-Journal →
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