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. The company, which was backed by Saudi Arabia's Public Investment Fund, had its main financial backer abruptly end its support after the final event of the 2026 season.

According to reports from The Age and The Sydney Morning Herald, LIV Golf owes its players millions of dollars, including around $10.2 million to Jon Rahm. The company has agreed to a restructuring plan with BC Partners as the primary source of its capital.

LIV Golf's CEO, Scott O'Neil, stated that the bankruptcy process will give the company the structure and time to pursue a new plan, dubbed "LIV Golf 2.0". The new plan involves a reduced schedule, a larger field of 75 players, and a 54-hole cut. The team concept will be built around nationalities, and LIV will continue to tap into successful markets in Australia, South Africa, and Asia.

Brief written by urgent.news from The Age, The Sydney Morning Herald, 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.