UPDATE 1-Golf-LIV Golf begins potential bankruptcy plans, Bloomberg News reports

Saudi ‌Arabia's Public Investment Fund, which has spent more than $5 billion on LIV Golf since it launched in 2022, said in ⁠April ​that investing ⁠in the league no longer fit with its investment strategy. The PIF's ⁠decision to cut LIV Golf's funding at the close ​of the 2026 season has left the breakaway ⁠circuit scrambling for new backers and raises questions about the ⁠future ​of its big-name players on lucrative contracts.

LIV Golf ​has begun laying ‌the groundwork ​for a potential U.S. bankruptcy filing if it fails to ‌raise new funds, Bloomberg News reported on Tuesday, citing people familiar with the matter.

LIV Golf did not immediately ‌respond when asked by Reuters to confirm report. Saudi ‌Arabia's Public Investment Fund, which has spent more than $5 billion on LIV Golf since it launched in 2022, said in ⁠April ​that investing ⁠in the league no longer fit with its investment strategy.

The PIF's ⁠decision to cut LIV Golf's funding at the close ​of the 2026 season has left the breakaway ⁠circuit scrambling for new backers and raises questions about the ⁠future ​of its big-name players on lucrative contracts. LIV has previously said it had posted a 100% increase ⁠in revenue year-on-year this season and was convinced that ⁠the team ⁠golf model would be highly attractive to investors.