LIV Golf has decided to expand its fields to 75 players and introduce a cut system for the first time. (LIV Golf)
LIV Golf has decided to expand its fields to 75 players and introduce a cut system for the first time. (LIV Golf)

LIV Golf, which has filed for bankruptcy protection, has launched a sweeping league overhaul that includes a major expansion of its playing fields to 75 golfers and the introduction of its first-ever cut.

US golf outlets Golfweek and Golf Digest reported Thursday that LIV Golf is facing a financial crisis after Saudi Arabia's Public Investment Fund declared it would halt funding. The league filed for bankruptcy protection with a federal bankruptcy court in New Jersey and unveiled a sweeping restructuring plan dubbed "LIV Golf 2.0."

According to the league overhaul plan unveiled by LIV Golf CEO Scott O'Neil, the league will significantly expand tournament fields from the current 54 to 57 players. The field size will grow to as many as 75. It also decided to scrap the no-cut format that has defined the league since its launch, officially introducing a cut for the first time in its history.

The plan also calls for a new Monday qualifying system to open a pathway for new players. It also expands the existing four-player team structure into a franchise business model that reflects national identities. The moves are aimed at shedding the league's image as a cut-free payday and building sporting legitimacy through fiercer competition and a more open structure.

The immediate reason behind LIV Golf's sweeping changes is a serious financial crisis. According to documents filed with the court, LIV Golf's total debt ranges from $500 million to $1 billion.

Since its 2022 launch, PIF had poured more than $5 billion into the league. But it announced it would completely halt funding once the 2026 season ends, citing underwhelming returns, a shift in investment focus toward domestic infrastructure, and instability in the Middle East. With Yasir Al-Rumayyan, PIF's governor and the architect of LIV Golf, also resigning, the league's funding was cut off, pushing it toward a rapid collapse.

LIV Golf has presented the court with a reorganization plan to relaunch as a new corporate entity in early 2027. The plan is in partnership with BC Partners, a UK-based global private equity fund. The plan's core is a shift to a "player-shareholder model," under which players would hold a majority stake in the league.

However, it is too early to be optimistic about the league's survival, since the bankruptcy filing could void multi-year contracts with existing players. Marquee stars such as Jon Rahm of Spain, Bryson DeChambeau and Dustin Johnson of the United States, and Cameron Smith of Australia are listed as major unsecured creditors. Each holds bonds worth millions of dollars.

The Associated Press said whether star players remain under the new equity model, despite losing out on massive contract payments, will be the biggest variable for the league's fate. The alternative is a return to the PGA Tour or DP World Tour.


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