LIV Golf has filed for bankruptcy protection with at least $45m (£33m) owed to players, who will now have the option to leave.

LIV Golf has paid $15.6 million to retain seven executives in the three months before filing for bankruptcy.

LIV Golf's looming bankruptcy didn't prevent the embattled tour from paying out massive bonuses to executives before filing for Chapter 11 in September.

LIV Golf secures a possible $300m in financing from BC Partners Credit in order to emerge from restructuring before the 2027 season.

LIV Golf has filed for Chapter 11 bankruptcy in New Jersey, seeking to restructure after Saudi Arabia’s Public Investment Fund cut off support for the big-spending rival to the PGA Tour.