LIV Golf Files for Bankruptcy as Bryson DeChambeau, Jon Rahm, More Free to Leave Organization

LIV Golf reportedly could lose some of its biggest stars after filing for bankruptcy.

Doug Ferguson of the Associated Press reported Tuesday the breakaway golf league, which was initially funded by Saudi Arabia's Public Investment Fund that has since pulled its financial backing, filed for Chapter 11 bankruptcy protection with more than $500 million in debt.

According to Ferguson, such a decision "was widely expected" and done so as "part of its goal to revive the league without Saudi funding." LIV also said it agreed to a restructuring plan with BC Partners serving as the primary source of capital.

Laura Scott of BBC reported LIV owes at least $45 million to players such as Jon Rahm and Bryson DeChambeau, who "now have the option to leave."

While Scott noted it remains to be seen when players who left could discuss joining other golf tours, even those who signed multi-year contracts with LIV are no longer obligated to stay on for the LIV 2.0 version the league hopes to launch.

Part of the bankruptcy filing included documents that show how much money is owed to LIV Golf's creditors. That list includes Rahm ($7.5 million), DeChambeau ($5.7 million), Dustin Johnson ($5.5 million), Cameron Smith ($4.8 million), Tyrell Hatton ($3.4 million) and Brooks Koepka ($1.7 million).

Koepka previously left LIV to return to the PGA Tour but was at one point one of the breakaway league's biggest stars.

Golf.com noted the Saudi PIF will still provide $49.6 million in financing under a debtor-in-possession agreement.

As Ferguson detailed, LIV CEO Scott O'Neil has detailed plans for a LIV 2.0 that would feature a reduced schedule, expanded fields and a 54-hole cut. What's more, players would have equity in the league.

Tuesday's filing comes after LIV already canceled the final event of its 2026 season, which was scheduled to take place in Michigan.

While Koepka and Patrick Reed already left and the future of the league is tenuous at best, losing golfers such as Rahm or DeChambeau would be quite the blow to the overall outlook of its future plans.