LIV Golf moves toward liquidation after financing collapse

The Saudi-funded LIV Golf league, which began operations in 2022, is preparing to wind down after its final financing effort fell short, leaving only minimal assets for the wind-down process. The league’s debut was marked by Phil Mickelson’s introductory press conference on June 8, 2022, during which he acknowledged concerns about Saudi Arabia’s human-rights record while emphasizing the opportunity to reshape professional golf.

Since its launch, LIV Golf has faced scrutiny over its association with the Saudi government and the ethical implications of its funding. Critics have highlighted the league’s complex format, including team structures, shotgun starts, and a relegation system, which differed from traditional tournament play.

Key players who joined LIV, such as Brooks Koepka and Patrick Reed, have since been allowed to return to the PGA Tour, and others are expected to move to the European Tour. The league’s founder and public face, Greg Norman, has been a prominent spokesperson throughout its existence.

Following weeks of attempts to secure additional investment, the league announced its decision to pursue liquidation after a brief court proceeding. The move places LIV Golf among other short-lived sports ventures that have ceased operations.

Phil Mickelson, who left the PGA Tour to join LIV, has faced personal and professional challenges since his departure, including disciplinary actions at his home club and a period of rehabilitation.