LIV Golf’s Next Steps: Bankruptcy, Investor Talks, Contract Buyouts
Many players still have years left on their contracts.
LIV Golf is entering a new, uncertain phase as of September 1, with the majority of employees facing layoffs. The Saudi Public Investment Fund's funding has now run out, with the league officially informing employees of their termination in the first week of September. This was anticipated, as LIV had provided 60-day layoff notices in July, per legal requirements in the U.S. and U.K.
LIV CEO Scott O'Neil stated that the company is scaling back operations and working towards LIV 2.0. He expressed gratitude to employees for their dedication in building the league and emphasized that the foundation created by this group would remain, regardless of future changes. A bankruptcy process might begin as early as next week, aiming to extend LIV's lifespan rather than shut it down permanently.
The bankruptcy could enable the league to secure a potential new funding deal of $250 million to $350 million from BC Partners Credit.
Ultimately, LIV seeks to transition to a player-owned model, with equity stakes offered to remaining players. Jon Rahm, who is owed over $100 million, is one of the biggest outstanding contract holders. Former vendors and contractors allege they remain unpaid, leading to a rise in lawsuits against the league. O'Neil hopes to settle these debts and do right by those affected.
With a 2027 schedule confirmed by the PGA Tour, finalizing a transaction with BC Partners to transform LIV into a player-owned league is a crucial next step.
Written by urgent.news from Front Office Sports's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
