LIV Golf could file for Chapter 11 bankruptcy protection in the United States as early as September 2026 after Saudi Arabia’s Public Investment Fund (PIF), the country’s sovereign wealth fund, ends its financial backing following the 2026 season. The league is discussing financing with the credit arm of British investment firm BC Partners to support competition from 2027 onward. A potential bankruptcy proceeding would address existing debt and contractual payment obligations and support a relaunch under a new operating structure in which players hold a majority stake. LIV recently sent active players settlement proposals, with players potentially divided between those joining the new league after settling, those settling without joining, and those pursuing contractual claims through bankruptcy. The reported decision by U.S. golfer and 2018 Masters champion Patrick Reed to leave LIV highlights the challenge of retaining marquee talent. The restructuring could create a player-owned model for professional sports, but disputes, departures, scheduling and sponsor relationships remain central to the league’s prospects beyond 2027.