LIV Golf is winding down operations, lawyer says in bankruptcy hearing
LIV Golf is ceasing operations, according to a bankruptcy court hearing in New Jersey. The organization's lawyer, Matthew Williams of Gibson Dunn, announced the decision, stating that the debtors are not pursuing the LIV 2.0 plan and are instead focusing on a value-maximizing wind-down of their business. LIV Golf has lost financial support since April when it stopped receiving funding from Saudi Arabia after spending over $5 billion since 2022.
The league filed for bankruptcy in September following the withdrawal of top players such as Jon Rahm, Tyrrell Hatton, Brooks Koepka, Patrick Reed, and Sergio Garcia. The European Tour, which had received financial support from LIV, has also distanced itself, potentially impacting LIV's eligibility for the Ryder Cup.
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Also reported by 5 other outlets
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