LIV Golf files for bankruptcy with stars owed millions
The breakaway tour plans to restructure and return in a new form after losing its deep-pocketed Saudi investors earlier this year.
LIV Golf, the high-profile golf tour that lured top players away from the PGA Tour, has filed for bankruptcy protection. The move comes with the company owing between US$500 million and US$1 billion to around 1,000 creditors, including some of golf's biggest stars. These players include Bryson DeChambeau, Jon Rahm and Dustin Johnson, all of whom are owed more than US$5 million each in immediate past-due payments.
The bankruptcy filing states that LIV is still considering restructuring and returning in a new form, with CEO Scott O'Neil saying it intends to create an ownership structure that aligns players' interests with the league's long-term success. However, the future of the tour and its popular players remains unclear, as players will have to decide whether to remain with LIV or pursue legal action to claim their owed millions.
Written by urgent.news from Free Malaysia Today's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
Also reported by 2 other outlets
- LIV Golf files for bankruptcy with stars owed millions freemalaysiatoday.com
- LIV Golf Declares Bankruptcy—These Top Players Are Owed Millions forbes.com
