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 this funding is set to end.

The investor had provided substantial financial support, helping to facilitate large contracts and payouts. However, an agreement has been reached with a new investment firm to recapitalize the league.

Further details about this development are available, including the terms of the agreement and the potential impact on the league's future. The bankruptcy filing outlines the plans for the league's restructuring and potential transfer of ownership to its athletes.