The next chapter in the LIV Golf saga could very well be Chapter 11.

The renegade golf tour has begun preparations to file for bankruptcy in the United States should it fail to secure new funding, Bloomberg reported Tuesday.

This latest development comes just a few weeks after it was announced that Saudi Arabia’s Public Investment Fund (PIF) would be pulling its funding after the 2026 season.

The Saudis reportedly poured close to $6 billion into LIV since its founding in late 2021, and a good chunk of that went towards monster contracts used to lure away stars like Bryson DeChambeau, Jon Rahm, Brooks Koepka and Phil Mickelson from the PGA Tour.

At the time, PIF was splashing money all over the sporting landscape, including buying a majority stake in Newcastle United in the Premier League and throwing staggering amounts of money at soccer stars like Cristiano Ronaldo, Neymar Jr., and Karim Benzema to join the Saudi Pro League.

With the PIF turning off the spigot, LIV’s front office and advisors are desperately seeking out investment from other sources. If the money can’t be secured, the junior varsity circuit could collapse when the season ends at the LIV Team Championships in Plymouth, Mich., on Aug. 30.

According to the report, LIV is weighing the idea of relocating its headquarters to the United States to take advantage of the more lenient bankruptcy laws on this side of the pond. The rebel league currently has offices scattered around the globe, including in London and Riyadh.

While Chapter 11 bankruptcy is one of the possible outcomes for LIV, the outfit’s decision-makers are viewing it as the last resort and are presenting potential investors with different paths forward.

“We have to create a plan that’s a business plan — a business that works from a business standpoint, from a profit and loss standpoint,” LIV Golf Chief Executive Officer Scott O’Neil said when he met the media at LIV Virginia earlier this month.

The company was singing a different tune six months ago when it reported that the 2025 season “delivered record-breaking results with fan attendance, partnership revenue, and television audience.”