Lee Westwood has refused to rule out remaining with LIV Golf despite the breakaway tour filing for bankruptcy protection in the United States.
The former world No 1 plans to examine the proposed new-look competition before deciding whether to extend his association with the organisation.
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LIV lodged a Chapter 11 petition on Tuesday after Saudi Arabia’s Public Investment Fund withdrew its financial backing in April.
The process is designed to allow the company to restructure its finances while continuing to operate, rather than immediately forcing it to close.
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Court documents state that the move is intended to “preserve the company’s business as a going concern”.
LIV says it has secured a new investor in BC Partners, with the reorganised business expected to be majority-owned by its players.
Westwood confirmed that golfers had received updates about the plans but admitted he still had limited information about what has been described as “LIV 2.0”.
“I enjoy playing on LIV,” Westwood told talkSPORT.
“It’s a breath of fresh air and, yes, we’re being kept informed on LIV 2.0, the new partner coming in.
“And I guess they’re just working on that at the moment and that’s all that I know really.
“I think everybody understands that there were mistakes made with the first one.
“The new partner is coming in to make it a sustainable tour and a sustainable operation so that’s very good but, obviously, whenever bankruptcy is mentioned, that’s never a good idea. It’s bad for a lot of people.”
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Although PIF is ending its role as LIV’s principal backer, the Saudi fund has agreed to provide $49.6million, approximately £37.7m, in debtor-in-possession financing during the restructuring.
That money is intended to support the tour as it reorganises ahead of a proposed relaunch in early 2027.
Questions remain over how many of LIV’s established stars will commit to the revamped competition after the upheaval.
Westwood believes player decisions will vary because LIV golfers operate as independent contractors and find themselves at different stages of their careers.
“I think some will stay and some won’t,” he said.
“We’re obviously all independent contractors and everybody’s got different options at different times in their careers, stuff like that.
“But my plan is to have a good look at LIV 2.0 and make a decision after that.”
Westwood, who is now 53, suggested that a reduced calendar featuring approximately 10 tournaments would remain attractive to him.
He also wants the freedom to combine LIV appearances with opportunities on the DP World Tour and Legends Tour.
“I enjoy playing on LIV so, if it continued the team aspect and 10 tournaments a year, which is great for me as I’ve got older, I’m 53 now, and mixing it up with playing on possibly the DP World Tour and the Legends Tour,” he added.
LIV staged its inaugural tournament in 2022 and triggered enormous disruption across professional golf by offering lucrative contracts to established players.
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