LIV Golf Reportedly Planning Bankruptcy Filing as Players Offered Equity in 'LIV Golf 2.0'

The Basics

LIV Golf is reportedly planning to file for bankruptcy within the coming weeks to restructure its contracts and debt, according to Flushing It, an account run by Tom Hobbs, as reported by both the New York Post and golfmagic. LIV Golf has not confirmed a filing is imminent.

The timing lines up with the end of financial support this season from Saudi Arabia's Public Investment Fund, according to golfmagic's reporting on the Flushing It account. A restructuring and rebranded "LIV Golf 2.0" is reportedly on the table.

Players Offered Equity

Players with outstanding money owed on multi-year or rolling contracts have reportedly been approached with equity stakes in whatever comes next, per Flushing It's reporting cited by both outlets. The size of those offers reportedly depends on a player's stature and the value of his existing deal.

Flushing It reported the total equity on the table could make LIV's own players the majority owners of LIV Golf 2.0, but only if new funding actually comes through. Players have also been handed non-binding "Indication of Interest" documents to sign. Reaction has been mixed: some players are ready to sign and stick around, others haven't signed or returned the paperwork at all, according to the report.

Jon Rahm's Leverage

Jon Rahm is described in Flushing It's reporting as the central figure in all of this. The two-time major champion is reportedly still owed a nine-figure sum from the deal he signed before jumping to LIV for the 2024 season, with multiple years still left on the contract.

That would make Rahm potentially LIV's single biggest creditor if the league actually files for bankruptcy. Rahm declined to commit to playing on LIV in 2027 when asked directly at a press conference at LIV Golf UK, according to both the Post and golfmagic. Given his financial stake and his standing as the league's top player, that non-answer carries real weight for what LIV 2.0 could look like, or whether it happens at all.

A Financing Deal Might Still Be Coming

The bankruptcy report isn't the only thing in motion. The New York Post's Mark Cannizzaro reported separately that LIV was on the verge of landing more than $250 million in outside investment. Sources told the Post that LIV has secured "multiple written commitments from blue-chip investment firms" willing to act as anchor investors, with qualified term sheets submitted to help capitalize LIV 2.0. That deal is expected to be finalized in September, according to the Post's sourcing.

The picture right now is a league simultaneously courting bankruptcy protection to shed debt and old contracts, while also trying to close a nine-figure-plus financing round with new investors. Companies file for Chapter 11 all the time specifically to clear the decks for fresh capital. But it does mean LIV's players, vendors and staff are being asked to make decisions about their futures without knowing which version of the story wins out.

The Team Championship Is in Limbo

The most concrete fallout so far involves LIV's Team Championship, scheduled for Michigan. Flushing It reported that multiple vendors and contractors are owed money and were told earlier this week the event had been cancelled, with travel and accommodation bookings for contractors and vendors called off and no work yet started at the venue. That event is reportedly about four weeks out.

But LIV's own leadership doesn't appear to be on the same page. Flushing It reported that CEO Scott O'Neil sent an email to players and staff Wednesday saying he was "planning for the Team Championship," directly at odds with what vendors were reportedly told days earlier. The season finale may happen as scheduled, get moved, or take some other form entirely.

What's Actually Confirmed, and What Isn't

None of this is confirmed by LIV Golf itself. Every specific detail, from the bankruptcy timeline to the equity offers to the Team Championship cancellation, traces back to Flushing It's reporting, as relayed by the New York Post and golfmagic. Both outlets frame it as a report, not a confirmed fact, and golfmagic explicitly notes there is "currently no confirmation from LIV Golf that a bankruptcy filing or such a restructuring is imminent."

What is independently sourced by the Post is the $250 million investment talk and the September timeline for a financing deal, attributed to people familiar with the situation rather than to Flushing It. One track of this story rests on an outside account's sourcing, the other on the Post's own reporting.

The open question is whether LIV files for bankruptcy before or after that financing round closes, and whether Rahm and other creditor-players agree to convert what they're owed into equity in a league that, by its own vendors' account, may not even be able to confirm its next event is happening.