New york: LIV Golf has announced the cancellation of its $40 million season-ending team tournament in Michigan. This marks the second cancellation of the 2026 season, following the New Orleans tournament in June. As a result, the LIV Golf Indianapolis tournament, scheduled for August 20-23, will be the final event of the season, amidst concerns among golfers about the league's future and financial stability.

According to Thai News Agency, a major crisis erupted after the Saudi Arabian Public Investment Fund (PIF) announced it was withdrawing its financial support in April, forcing the league to scramble to find external investors to inject between $250 and $300 million. Rumors also surfaced about the league's impending bankruptcy filing. Furthermore, its traditional partner, the Asian Tour, opted to partner with the PGA Tour and DP World Tour, while the contracts of star players like Bryson DeChambeau and John Rham were set to expire at the end of the season.

To ensure survival, the league's CEO, Scott O'Neill, unveiled a restructuring plan to the "LIV 2.0" model. This will reduce the number of tournaments from 14 to 10, decrease prize money per event, grant golfers majority ownership in the league, and allow them to compete on other tours. The goal is to cut costs and create long-term financial stability, with the aim of finalizing a deal with a new investment group by February.