By Sohaib Shams
LIV Golf is winding down its operations instead of launching a planned new version, a lawyer for the organization told a bankruptcy court hearing in New Jersey on Thursday.
Funding Loss and Bankruptcy
Attorney Matthew Williams of Gibson Dunn said the debtors are not proceeding with the LIV 2.0 plan and are switching to a value-maximizing wind-down of the business. The league lost its Saudi Arabia funding in April after spending more than $5 billion since 2022 and filed for bankruptcy in September.
Player Departures Accelerate
Top players including Jon Rahm, Tyrrell Hatton, Sergio Garcia, Louis Oosthuizen, David Puig and Tom McKibbin have left the league. Brooks Koepka exited his deal earlier in the year, and Patrick Reed chose not to extend his contract.
European Tour Ultimatum
European tour CEO Guy Kinnings said the tour must protect itself against an entity that spent over $7 billion with an aim to "destroy the DP World Tour." The tour ruled that anyone signing with LIV 2.0 would be ineligible for DP World Tour membership and the Ryder Cup.
Asian Tour Shifts Alliance
The Asian Tour, which had received financial backing from LIV for an International Series, decided in July to renew its alliance with the PGA Tour and European tour.
Final Event Held in August
LIV's last tournament took place in August in Indianapolis, where Michael La Sasso claimed victory.
