Saudi-backed LIV Golf preparing for bankruptcy filing

Saudi-backed LIV Golf preparing for bankruptcy filing MEE staff on Mon, 08/31/2026 - 19:39 Settlement offers sent out to players after Saudi Arabia cuts its financial support for the upstart golf tour Supporters gather ahead of the start on the first day of the LIV Golf South Africa tournament at The Club in Johannesburg's Steyn City, on 19 March 2026 (Phill Magakoe/AFP) Off Saudi Arabian-backed LIV Golf is prepping for a bankruptcy filing as soon as next week, as the kingdom’s sovereign wealth fund refuses to provide additional funding to the golf challenger. LIV Golf has sent out settlement offers to players who were promised millions in guaranteed payouts, which now stand at just a few cents on the dollar, the Financial Times reported on Monday. Saudi Arabia signaled in the spring that it would withdraw its multibillion-dollar investment in LIV Golf. LIV Golf’s chairman Yasir al-Rumayyan, who is also governor of Saudi Arabia’s Public Investment Fund (PIF), was expected to resign. PIF’s bet on LIV Golf to rival the PGA Tour was one in a series of investments that were made in a bid to bolster the kingdom’s involvement in sports and entertainment, as it pushes to diversify its eco