LIV Golf files for Chapter 11 bankruptcy protection

A proposed bankruptcy settlement for the upstart golf venture, which has struggled to secure a sustainable business model, now includes a plan that would place the majority of ownership in the hands of the players themselves. Under the terms, the venture’s assets and operations would be transferred to a newly formed entity in which participating golfers would hold controlling equity, effectively turning the organization into a player‑owned league.

The venture, which launched last year with the aim of creating a more accessible and fan‑centric professional golf circuit, has faced financial pressures from limited sponsorship revenue and high operating costs. The bankruptcy filing, filed in the U.S. District Court for the Southern District of California, seeks to restructure its debts and preserve the league’s brand. The player‑ownership model is intended to align incentives, reduce overhead, and attract new investors who are more comfortable with a governance structure that reflects the interests of the athletes.

If the deal is approved, the league would resume operations under the new ownership framework in the next fiscal year, with a projected schedule of tournaments and a revised revenue‑sharing model. Stakeholders will monitor the court’s decision closely, as the outcome could set a precedent for how niche sports leagues navigate financial distress while maintaining player influence.