May 19 (Reuters) - LIV Golf has begun ⁠laying the groundwork for a potential U.S. bankruptcy filing as a last resort if it ⁠fails to raise new funds, Bloomberg News reported on Tuesday, citing people familiar with ‌the matter.

Saudi Arabia's Public Investment Fund, which has spent more than $5 billion on LIV Golf since it launched in 2022, said in April that investing in the league no longer fit with its investment strategy.