Aug 31 (Reuters) - LIV ⁠Golf may file for bankruptcy protection as soon ⁠as the week of September 7, the Financial ‌Times reported on Monday, citing people briefed on the negotiations.

Last week, the professional men's golf league said it had laid off most ​of its workforce while it continued ⁠to secure funding for ⁠its next phase, with financial backing from Saudi Arabia's Public ⁠Investment ‌Fund (PIF) set to expire.

LIV Golf recently sent settlement offers to current players who are ⁠owed millions in guaranteed payments beyond 2026, with ​initial offers ‌amounting to only a few cents on the dollar, ⁠the report ​said, as the Saudi sovereign wealth fund has been reluctant to provide additional funding.

Reuters could not immediately verify the ⁠report. LIV Golf and PIF did ​not immediately respond to a Reuters request for comment outside regular business hours.

PIF has poured more than $5 billion into ⁠LIV Golf since the breakaway circuit launched in 2022 but said in April it would cut funding at the close of the league's 2026 season.

The bankruptcy ​could be filed in the federal ⁠district court of New Jersey, the newspaper reported. It added ​that PIF is expected to ‌provide a bankruptcy loan of ​less than $100 million, without committing additional funding.

(Reporting by Shivani Tanna in Bengaluru; Editing by Sonia Cheema)