A professional golf league has filed for bankruptcy protection. This move aims to bring about a new ownership structure. The league had been backed by a significant investment, but that funding is set to end. The current backer had invested a substantial amount, over $5 billion, since the league's launch.

The league's future had been uncertain due to the end of this funding. An agreement has been reached with an investment firm to recapitalize the league.

Further details about the bankruptcy filing and the league's plans are available from the source.