LIV Golf, the professional golf tour backed by Saudi Arabia’s Public Investment Fund (PIF), is reportedly moving toward a bankruptcy filing. According to reports, the decision follows a significant shift in strategy from the Saudi government, which has opted to cut off the financial backing that sustained the league since its inception.

As the organization prepares for this transition, it has begun distributing settlement offers to its contracted players. The move marks a major turning point for the tour, which had previously positioned itself as a long-term competitor to the PGA Tour. While the specific terms of these settlements and the timeline for the bankruptcy filing remain under development, the withdrawal of Saudi funding appears to be the primary driver behind the current restructuring efforts. The organization has not yet issued a formal public statement regarding the extent of its financial liabilities or the future status of its tournament schedule.