LIV Golf could seek bankruptcy protection as soon as next week after losing Saudi Arabian financial backing, the Financial Times reported Monday. The breakaway golf league is expected to file in federal court in New Jersey, where the bankruptcy cases of companies including WeWork and Rite Aid were handled. LIV recently approached players with a proposal to restructure guaranteed payments due after 2026. Those obligations are reportedly worth tens of millions of dollars. LIV is discussing financing with the credit arm of British investment firm BC Partners to support competition from 2027 onward under a player-majority ownership model after PIF support ends. The league canceled two events during the 2026 season, scaled back operations, terminated employees and faces vendor lawsuits seeking unpaid amounts. Patrick Reed has reportedly decided to leave LIV, highlighting challenges in retaining talent.