LIV Golf abandons reboot after Jon Rahm, top stars walk away

LIV Golf is winding down operations instead of launching a new version because of a lack of financial support.A lawyer representing the organization announced the decision in a bankruptcy court hearing Thursday in New Jersey.The debtors are not currently proceeding with the LIV 2.0 plan, Matthew Williams of Gibson Dunn said. Instead, the debtors are toggling to a value-maximizing wind-down in their business."LIV Golf lost Saudi Arabia funding in April after having spent more than $5 billion since 2022. LIV filed for bankruptcy in September. Since announcing plans for a new version, top players like Jon Rahm and Tyrrell Hatton have bailed.RELATED STORY | LIV Golf files for Chapter 11 bankruptcy, seeks new player-first ownership structureThe league was originally run 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 f