LIV Golf is entering a major transition after completing its 2026 season. The Saudi-backed league has made significant changes to its operations as it prepares for a proposed new phase called “LIV 2.0.”
The league has reduced its workforce and is seeking new investment after the Public Investment Fund’s financial backing ended at the 2026 season. LIV is also working on a new ownership structure that would give players a greater stake in the competition.
Questions over player contracts, unpaid vendors and contractors, and the league’s plans for 2027 now surround LIV as it attempts to build a sustainable future.
Jon Rahm Faces More Than $100 Million in Unpaid LIV Money
Former vendors and contractors remain unpaid, lawsuits are piling up, and Saudi PIF may be on the hook as LIV heads toward a potential bankruptcy filing as soon as next week.
Jon Rahm remains the biggest player in terms of financial obligation for LIV Golf. Front Office Sports says the two-time major champion is still owed more than $100 million from the $300 million signing agreement he received when he joined LIV ahead of the 2024 season.
LIV could seek Chapter 11 bankruptcy protection as soon as next week, according to the “Financial Times.” The process would aim to restructure the league and extend its operations rather than immediately shut it down.
Rahm is not the only player affected. Several LIV golfers have guaranteed payments remaining on their contracts beyond 2026. The “Financial Times” also says LIV has sent settlement offers worth “cents on the dollar” to players.
Those offers could affect how LIV resolves its existing financial commitments. The league also faces pressure from former vendors and contractors who say they remain unpaid. Lawsuits against LIV have also continued to emerge.
Front Office Sports says LIV is seeking between $250 million and $350 million in new funding. The proposed restructuring would create an equity pool for players who stay with the league.
According to “Mundo Deportivo“, the PIF could provide financing during a bankruptcy process. That money would help LIV continue operating while it works toward a new ownership and funding arrangement.
LIV Golf 2.0 Faces Star Retention and Funding Test
LIV Golf’s proposed “LIV 2.0” model would give players majority ownership or significant equity in the league and their teams. CEO Scott O’Neil has described the transition as a major change for the organization.
“Our colleagues at the Public Investment Fund (PIF) and H.E. Yasir Al Rumayyan in particular had the conviction to invest in a vision for the global game of golf,” O’Neil wrote on LinkedIn.
LIV is also pursuing new financial backing after the PIF’s withdrawal. British private capital firm BC Partners is set to take the PIF’s place as the league’s financial backer. LIV has also explored additional investment opportunities.
Retaining its biggest stars could prove important to the league’s next phase. Mundo Deportivo reported that Brooks Koepka has accepted the PGA Tour conditions. Patrick Reed, meanwhile, has pursued a route through the DP World Tour as he seeks a return to the PGA Tour in 2027.
LIV must now resolve its financial commitments and secure future funding. It also needs enough players to build its 2027 schedule. Those steps will shape the league’s next chapter.
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