LIV Golf is apparently working on a potential shutdown plan.<\/p>\n
The organization has started laying the groundwork for a potential U.S. bankruptcy filing if it fails to raise new funds by the end of the season, according to Bloomberg News<\/a>. If those funds aren\u2019t secured by the end of the 2026 campaign, LIV Golf is \u201cpreparing for the league\u2019s collapse\u201d as a possible outcome.<\/p>\n Advertisement<\/p>\n Saudi Arabia\u2019s Public Investment Fund is pulling funding from the startup league<\/a> at the end of the 2026 campaign. The league first launched in 2022, but has struggled to gain traction in recent years while the PIF has poured billions into the venture. The merger-of-sorts with the PGA Tour that was announced at the height of the Tour-LIV feud never came together, either.<\/p>\n LIV Golf is seeking long-term financial partners to help replace the PIF and survive after the 2026 season. According to Axios<\/a>, LIV Golf is trying to raise up to $250 million from new investors. That amount could get LIV Golf to profitability within two years, per that report.<\/p>\n \u201cLIV Golf is firmly focused on securing a transaction that positions the organization for the long-term,\u201d a LIV Golf spokesperson told Yahoo Sports\u2019 Jay Busbee on Tuesday afternoon. \u201cAs we begin presenting our go-forward business plan to prospective capital partners, we are focused on achieving a sustainable future and there are multiple pathways under active exploration. We continue to see great momentum on the course and with support through the 2026 season and a clear plan to raise capital, leadership is focused on identifying the right long-term strategic partners who believe in our mission to grow the game of golf worldwide.<\/p>\n \u201cThese conversations are just getting underway, and as they progress, the company expects to gain further clarity around the structure and timing of a potential transaction.\u201d<\/p>\n If LIV Golf shuts down at the end of the 2026 season, it\u2019s unclear where the league\u2019s biggest names would land in golf. The PGA Tour has not said how it would welcome back golfers like Bryson DeChambeau, who was one of 11 who filed a lawsuit against the Tour in 2022. DeChambeau has said that he could focus<\/a> on his YouTube channel and play where he\u2019s welcome, meaning the four major championships.<\/p>\n Brooks Koepka made the jump back earlier this year after getting out of his LIV Golf deal early, though he did so on a one-time exemption that came with plenty of concessions. Patrick Reed is planning to rejoin the PGA Tour this fall, too, after one full year away from LIV Golf.<\/p>\n Advertisement<\/p>\n Jon Rahm, who was in the hunt at the PGA Championship<\/a> last weekend, was largely trying to avoid the LIV Golf questions<\/a> ahead of the major championship at Aronimink. Rahm reportedly received $300 million over multiple years to join LIV Golf, but he said earlier this month that he didn\u2019t \u201csee many ways out\u201d of his LIV Golf contract.<\/p>\n What a potential LIV Golf bankruptcy in the United States would look like or mean is uncertain. The league\u2019s international events are largely incorporated and run through the United Kingdom, and it was initially funded by Saudi Arabia. Only four of the league\u2019s 13 tournaments are being held in the United States this season. A fifth event, LIV Golf Louisiana, was postponed.<\/p>\n Tuesday\u2019s report only adds to the speculation about LIV Golf\u2019s future beyond 2026.<\/p>\n","protected":false},"excerpt":{"rendered":"LIV Golf is apparently working on a potential shutdown plan. The organization has started laying the groundwork for…\n","protected":false},"author":2,"featured_media":680619,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[443],"tags":[53103,49,48,622,6674,82],"class_list":["post-680618","post","type-post","status-publish","format-standard","has-post-thumbnail","category-golf","tag-bloomberg-news","tag-ca","tag-canada","tag-golf","tag-liv-golf","tag-sports"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/posts\/680618","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/comments?post=680618"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/posts\/680618\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/media\/680619"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/media?parent=680618"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/categories?post=680618"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/tags?post=680618"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}