Lee Westwood has declared he is considering his future on LIV Golf cause after the Saudi-backed breakaway tour announced bankruptcy.Though the seven-time Ryder Cup-winning hero has admitted the bombshell news is ‘bad’ for a lot of his colleagues.Westwood has been part of LIV Golf since their inaugural event in June 2022GettyIt was announced on Tuesday night that bankruptcy had been filed by LIV Golf, with liabilities estimated between $500million and $1billion (£370m-£739m) from its failed venture.Why has LIV Golf filed for bankruptcy?The news shouldn’t come as a shock to many after it was revealed earlier this year that the Public Investment Fund [PIF] will pull it’s funding following the conclusion of the 2026 season.The withdrawal of backing from the PIF has seen BC Partners named as the new lead investor.Despite the struggling circuit restructuring for ‘LIV Golf 2.0’, it remains to be seen how many high-profile stars will be part of the project with the bankruptcy technically terminating all existing player contracts.Just from Q3 in 2026 alone, Jon Rahm is still owed $7.5m (£5.5m), which doesn’t take into account the tens of millions he is due from his $300m (£221m) contract he signed when he joined.Meanwhile, Bryson DeChambeau ($5.7m – £4.2m), Dustin Johnson ($5.5m – £4.1m), Cameron Smith ($4.8m – £3.5m) and Tyrrell Hatton ($3.4m – £2.5m) are also among the top 30 creditors, as well as Brooks Koepka, who left to re-join the PGA Tour in January, with an unsecured claim of $1.7m (£1.25m).What has Lee Westwood said about LIV Golf filing for bankruptcy?Westwood, who played in LIV Golf‘s inaugural tournament in June 2022, spoke on the Sports Breakfast show on Wednesday morning to comment on the situation.And he revealed he was completely left in the dark of the news, as he said: “You know more than me I’m afraid!“I was asked, well I saw a text this morning asking if I’d come on and I don’t know any details at all, so it’ll just be speculation and guessing from my side.”The 53-year-old was then quick to point out he remains committed to LIV Golf, as he stressed: “I enjoy playing on LIV, it’s a breath of fresh air.Jon Rahm is among the LIV Golf stars that could seek a return to the PGA TourGetty“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.”talkSPORT co-host Ally McCoist then commented on the ‘doom and gloom’ surrounding the tour at present.To which Westwood acknowledged that mistakes have been made – which could prove problematic for his colleagues.Though he remained adamant there are positive signs for LIV going forward.He remarked: “I think everybody understands that there were mistakes made with the first one.“And the new partner’s coming in to make it a sustainable tour and a sustainable operation, so that’s very good.Bryson DeChambeau has won five events on the LIV Golf circuitGetty“But obviously whenever bankruptcy’s mentioned, that’s never a good idea and it’s bad for a lot of people.”Attention then turned as to whether Westwood believes Rahm, DeChambeau and Johnson will stick around for LIV Golf 2.0.Not holding out hope for all of the tour’s best players remaining loyal, he stated: “I think some will and some won’t.“I think we’re obviously all independent contractors and everybody’s got different options at different times in their careers and stuff like that.“But my plan is to have a good look at LIV 2.0 and make a decision after that, I enjoy playing on LIV.“So if it continued the team aspect and ten 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, which is the senior tour connected with the European Tour.”