LIV Golf files for bankruptcy as players seek contract exits

LIV Golf has filed for Chapter 11 bankruptcy protection as part of a restructuring plan following the announcement that Saudi Arabia’s Public Investment Fund will end its funding after the 2026 season. The league is currently working under a proposed investment plan that requires it to sign at least half of its owed players within 35 days of the filing to secure future funding.

Amid this restructuring, professional golfer Sergio Garcia has filed to terminate his contract with the league. His attorneys argued that ending the agreement is consistent with LIV Golf’s stated business plan and would provide Garcia with the flexibility needed to manage future career commitments without conflicting contractual obligations.

As players face decisions regarding their future with the breakaway league, the DP World Tour has indicated it is exploring ways to accommodate returning players. However, any return would not be automatic; players must meet specific conditions, including being free of conflicting contracts and complying with tour regulations. Reports suggest that even if players rejoin the European circuit, they may be denied access to lucrative Rolex Series events.