Rory McIlroy Predicts LIV Golf Player Exodus as Bankruptcy Reshapes the Tour

LIV Golf’s Chapter 11 bankruptcy filing has put the future of its roster and proposed 2027 relaunch in doubt. Rory McIlroy’s central prediction is straightforward: some players will leave because the economics that made the original LIV model compelling are no longer available. But the league is not yet gone. It has a restructuring agreement with BC Partners and a stated plan to emerge as a more player-owned, lower-cost operation. 22

What McIlroy predicted

Speaking ahead of the Irish Open, McIlroy said LIV “at the start looked a lot more attractive than what LIV 2.0 might be from a financial standpoint.” He added that he expected “some guys” to leave, saying they were free to do so because, in his view, the bankruptcy filing had breached their contracts. 22

That is McIlroy’s assessment, not a final legal ruling. Reporting on the case noted that sources familiar with the situation said contracts had not yet been breached, though the existing deals were expected to become invalid through the restructuring process. 9

McIlroy also said returning players could make tournaments on other circuits more competitive, potentially benefiting the DP World Tour. At the same time, he warned that other tours would have decisions to make about how players are readmitted. 1022

LIV 1.0 vs. LIV 2.0: the fundamental change

The planned sequel is not simply another LIV season. The restructuring points to a different financial model and a more conventional competitive format.

LIV 1.0: Saudi-backed spending and guaranteed deals

LIV’s original model was underwritten by Saudi Arabia’s Public Investment Fund, which spent heavily to assemble a roster of elite players and build a rival global circuit. The on-course product was defined by 54-hole events, no cuts and compact fields; Jon Rahm’s move to LIV in 2023 followed his public criticism of those features. 56

The PIF later decided it would not bankroll the league beyond the 2026 campaign. That withdrawal left LIV seeking new capital and helped lead to the Chapter 11 filing. 510

LIV 2.0: a leaner, player-first proposal

Under LIV’s announced restructuring plan, BC Partners and possible minority investors are expected to provide exit financing after the bankruptcy process. The reorganized company is expected to be majority owned by players. 312

LIV has described a proposed 2027 format that would:

• run a reduced 10-event schedule;
• expand fields from 57 to 75 players;
• introduce a 54-hole cut; and
• add pathways such as Monday qualifying.

The company has also indicated that the new structure would be intended to give players greater ownership and align their interests with the league’s longer-term success.

Crucially, the proposal is not final. LIV has said no definitive decisions on the 2027 schedule or individual events have been announced. A restart depends on court approval, financing and player commitments.

The financial hole behind the restructuring

LIV filed for Chapter 11 protection in the U.S. Bankruptcy Court for the District of New Jersey on September 8, 2026. Its petition listed assets between $100 million and $500 million, against liabilities between $500 million and $1 billion. 14

Despite withdrawing longer-term operating support, the PIF agreed to provide a $49.6 million debtor-in-possession loan to fund the bankruptcy process. That financing is designed to support operations while the company attempts to reorganize; it does not restore the former PIF-backed operating model.

The disruption had already reached the competition itself: the 2026 season ended early after the cancellation of the team championship in Michigan. 17

Players are creditors—and their next contracts are uncertain

Court filings identify several of LIV’s best-known players as unsecured creditors. The leading disclosed claims include:

• Jon Rahm: $7.5 million
• Bryson DeChambeau: $5.7 million
• Dustin Johnson: $5.5 million
• Cameron Smith: $4.8 million 14

The 14 current and former LIV players among the 30 largest creditors are owed slightly more than $45 million in total, according to BBC reporting.

Being listed as an unsecured creditor establishes a claim in the bankruptcy case, but it does not guarantee full recovery. It also does not compel a player to join a new LIV entity. Players have been described as having the option to exit their current arrangements and negotiate anew over participation in LIV 2.0.

Jon Rahm’s position: willing to honor LIV 1.0, undecided on the future

Rahm has not committed to LIV 2.0 or declared a return to the PGA Tour. Asked about a possible path back, he said: “I still have a contract with LIV 1.0 that I’m more than willing to fulfill.” He also emphasized the uncertainty around the situation: “There’s a lot of things that could happen” and “time will tell.”

Reuters reported that Rahm’s LIV deal has multiple years remaining and more than $100 million reportedly still on it. The precise contractual and bankruptcy outcomes will therefore be particularly consequential for him.

What it could mean for the DP World Tour and PGA Tour

McIlroy sees a possible upside for established tours if high-level LIV players become available. A return of prominent players could deepen fields and sharpen competition on the DP World Tour, which McIlroy said could be “a good thing” for the wider golf ecosystem. 1022

The harder question is policy. If players seek places on the PGA Tour or DP World Tour, those tours must decide what conditions apply to return—an issue McIlroy explicitly identified as a pending decision. 22

The Ryder Cup implications are less settled. Any change in where leading European and American players compete could affect the relevant membership and selection landscape, but the sources available do not establish a specific eligibility outcome. For now, the key fact is that LIV’s 2027 structure, player roster and competitive calendar remain unresolved.

The bottom line

McIlroy’s prediction rests on a practical point: LIV 1.0’s financial appeal was built on PIF-scale funding, while LIV 2.0 is planned as a smaller and more sustainable, player-owned venture. BC Partners’ deal provides a route toward a restart—not a completed relaunch. Whether top players accept new terms, pursue other tours, or negotiate a return to LIV will determine whether the proposed 2027 circuit becomes a genuine successor or a far smaller version of the original. 22