What does LIV Golf bankruptcy mean for Jon Rahm, Bryson DeChambeau?
LIV Golf declared for bankruptcy after months of rumors about its future, but the league insists the move was to facilitate a new version of the tour.
LIV Golf filed for bankruptcy protection, aiming to restructure and launch a new player-owned version of the tour. The league announced its bankruptcy filing on September 8, 2023, with a court-supervised restructuring process under Chapter 11 in the U.S. Bankruptcy Court for the District of New Jersey. LIV Golf's CEO, Scott O'Neil, confirmed the move would provide the necessary structure and time to pursue a landmark transaction and a player-first ownership model.
The league's assets are estimated to be worth $100 million to $500 million, while its liabilities range from $500 million to $1 billion. O'Neil emphasized that the bankruptcy filing would facilitate the league's transition and delivery of its full potential.
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