LIV Golf files for bankruptcy, Saudi PIF provides $49.6m debtor-in-possession loan

LIV Golf, the Saudi-backed golf league, has filed for bankruptcy protection in the US and intends to restructure with a $49.6m debtor-in-possession loan from the Saudi Public Investment Fund. The filing signals financial distress for the venture, which has struggled to gain traction. The move may affect the PIF's broader sports investment strategy and could have implications for the ongoing PGA Tour-PIF negotiations.