LIV Golf files for bankruptcy protection
LIV owes between $500 million and $1 billion in estimated liabilities to at least 1,000 creditors, including star players like Bryson DeChambeau.
LIV Golf, the high-stakes golf tour that spent billions to attract top players away from the PGA, filed for bankruptcy protection on Tuesday. The move comes after the tour lost its major Saudi Arabian investors earlier this year, leaving it with estimated liabilities of $500 million to $1 billion owed to 1,000 creditors, including high-profile golfers like Bryson DeChambeau and Jon Rahm.
LIV CEO Scott O'Neil said the bankruptcy filing will allow the tour to pursue a "landmark transaction" and restructure in a new ownership model. The bankruptcy filing was expected, following the axing of most LIV staff and the cancellation of a team championship after losing Saudi backing. Star players like DeChambeau, Rahm, and Dustin Johnson hold significant unpaid claims against the tour, but the exact impact on their futures remains unclear.
LIV plans to return in 2027 with a new, "player-first" ownership structure, hosting events on five continents and holding 75-player tournaments with a cut and additional pathways for players to join. The tour is seeking to have its U.S. bankruptcy recognized in England and Wales to cover its global assets.
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Also reported by 1 other outlet
- LIV Golf files for bankruptcy protection nst.com.my
