According to CoinMeta, LIV Golf has declared bankruptcy due to spending billions of dollars and is undergoing reorganization under Chapter 11. With debts amounting to over $1 billion, the company plans to launch a player-led "LIV 2.0" in 2027. LIV Golf has filed for Chapter 11 bankruptcy protection in New Jersey. Court documents show that LIV's estimated debts range between $500 million and $1 billion, while its assets are only between $100 million and $500 million. More than 1,000 creditors are listed, including some prominent players in the golf industry. The CEO of LIV, Scott O, stated that Chapter 11 will provide the company with time to complete the reorganization and launch a new version of the league. The reorganization agreement is expected to result in a LIV Golf where players hold the majority ownership after the reorganization. This transaction still requires approval from the court and stakeholders, and LIV plans to emerge from Chapter 11 by the beginning of 2027.