Rory McIlroy believes LIV Golf was “half a good idea, executed poorly” and the breakaway is no longer a threat to the traditional game as it tries to relaunch after filing for bankruptcy.

Saudi Arabia’s Public Investment Fund (PIF) ploughed in £3.7bn over four years, luring the likes of Jon Rahm and Bryson DeChambeau away from the PGA Tour, before withdrawing its support this year.

That led to Chapter 11 bankruptcy proceedings in the United States with a view to relaunching as LIV 2.0, having received a potential $300m (£227m) backing from BC Partners Capital providing a specified number of players re-sign for the new venture.

Rahm has already announced he will not be continuing and news this week that any player signing up for LIV will be barred from DP World Tour membership and Ryder Cup eligibility has delivered a crippling blow.

“LIV had probably like, half of a good idea that was executed pretty poorly,” McIlroy told the Bloomberg New Economy forum in New Delhi, where he is playing this week in the DP World India Championship.

“They had a lot of capital but I think a lot of that capital was wasted in some ways and I think they could have used that money a lot more strategically and could have partnered with some of the governing bodies of the game and certainly could have done better things with it instead of just enriching tour pros who were already making a lot of money.

“BC Partners have come in and seen an opportunity (but) it looks like every day that goes by there’s another player that was on LIV who is not going to join LIV 2.0 so I think it is going to be very difficult to get out of this Chapter 11 bankruptcy and go forward.

“But if they do it is certainly not going to be a threat to the traditional order of the game as it once was.”

A more pertinent issue now seems to be what happens to those players quitting LIV.

The PGA Tour invokes a one-year suspension, denying them access until August next year, and while the DP World Tour has stiffened its rules its membership remains divided.

“I’m sure some members who stayed loyal would feel hard done by if these guys can just walk straight back in but, on the other side, having these players back on the tour is good for business and it can drive revenues up and everyone can benefit from that,” added McIlroy.

“I would vote for them to come back. A rising tide lifts all boats and I think having some of these players back is beneficial for the business of the tours.”

It is not a view shared by six-time DP World Tour winner Joost Luiten.

“Four years ago they didn’t give a s*** about the DP World Tour,” he told Today’s Golfer.

“They made a decision to go after the money and now all of a sudden, the money is gone and they want to come back and act like nothing happened. I don’t think that’s right.

“If they think they are that good then show it at Q-School (qualifying school) and beat the guys. That’s how every other guy that wants to play on this tour has to go.”

Get the best prices and book a round at one of 1,700 courses across the UK & Ireland