Superstars owed millions as LIV Golf files for bankruptcy

LIV Golf has filed for Chapter 11 bankruptcy protection in New Jersey with over $500 million in debt. According to reports, the company's main financial backer, Saudi Arabia's Public Investment Fund, abruptly ended its financial support after the final event of the 2026 season.

The company has agreed to a restructuring plan with BC Partners as the primary source of its capital. As part of this plan, LIV Golf's CEO, Scott O'Neil, has announced that the league will be revamped, with plans for "LIV Golf 2.0" featuring a reduced schedule and players as majority owners.

LIV Golf owes its players millions of dollars, including around $10.2 million to Jon Rahm. The company is in "advanced discussions" with players to take control of the business, and BC Partners Credit and other investors are expected to provide exit financing to capitalise the reorganised company.

Brief written by urgent.news from The Sydney Morning Herald, The Age, Associated Press, Winnipeg Free Press, The National UAE — 5 reports on this story. Machine-written — may contain errors; check the original before relying on it.