LIV Golf is shutting down operations rather than launching a new version due to lack of financial support. An attorney representing the organization announced the decision at a bankruptcy court hearing Thursday in New Jersey. 2:44 Doubts Grow About LIV Golf’s Future “Debtors are not currently moving forward with the LIV 2.0 plan,” said Matthew Williams of Gibson Dunn. “Instead, debtors are opting for a liquidation that maximizes the value of their businesses.” LIV Golf lost funding from Saudi Arabia in April after spending more than $5 billion since 2022. LIV filed for bankruptcy in September. Since plans for a remake were announced, top players like Jon Rahm and Tyrrell Hatton have left. Get daily national news Get daily Canadian news delivered to your inbox so you never miss the day’s top stories. The league was originally managed by Greg Norman. A few months after the start of the Iran war, PIF changed its investment strategy in April and said it would no longer pay for LIV Golf after the 2026 season. The Asian Tour, which received a financial boost from LIV for an International Series, decided in July to renew a partnership with the PGA Tour and the European Tour. Guy Kinnings, chief executive of the European circuit, criticized LIV in an interview with The Scotsman when he said: “But we also have to protect the circuit against an entity that spent, we are told, more than $7 billion, one of its objectives being ‘to destroy the DP World Tour’.” Rahm, Sergio García, Louis Oosthuizen and Tyrrell Hatton also said that Ya would not stay with LIV, and the rival league also lost young players such as David Puig of Spain and Tom McKibbin of Northern Ireland. More on Trends More Videos Story continues below ad Golfer Bryson DeChambeau high-fives fans as he walks to the practice range on Aug. 23, 2026, during the final round of LIV Golf Indianapolis at The Club at Chatham Hills in Westfield, Indiana. Brian Spurlock/Icon Sportswire via Getty Images The year began with Brooks Koepka exiting his contract with LIV with a year left, and the PGA Tour creating a path, with financial penalties, to return. Patrick Reed decided not to extend his contract and is now set to return to the PGA Tour next year through his performance in Europe. Rahm had said Tuesday that he would be willing to pay the same price as Koepka, although it was unlikely the same deal would be offered. LIV 2.0 was boosting player equity and prize money that was more than half of the $20 million in prize money for individuals when it began in 2022. LIV’s last event was in August in Indianapolis, won by Michael La Sasso. Last week he couldn’t make it through the second leg of the European Q-school tour. © 2026 The Canadian Press