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Saudi-Backed Golf League Faces Collapse as Funding Dries Up

LIV Golf is exploring bankruptcy protection after Saudi Arabia's Public Investment Fund withdrew financial backing, threatening the league's operational future. The golf venture dramatically reshaped professional sport through aggressive spending and lucrative player agreements. Now it confronts an uncertain path forward without its primary financial backer. The PIF's decision to pull support marks a significant reversal for a franchise that entered the market with substantial capital commitments. Industry observers have questioned the league's long-term viability amid the funding withdrawal. The potential bankruptcy filing would represent a major setback for a venture that attracted high-profile players through record-setting contracts and promised significant purses for events.