LIV Golf files for bankruptcy protection as it tries to survive in a smaller version – WTOP News
- On Tuesday, September 8, LIV Golf filed for Chapter 11 bankruptcy in the U.S. Bankruptcy Court for the District of New Jersey, citing more than $500 million in debt as it begins a court-supervised restructuring process.
- Earlier this year, the Public Investment Fund of Saudi Arabia ended its financial support for the league after the 2026 season, leaving LIV Golf without its primary source of capital and forcing restructuring.
- Jon Rahm leads creditors owed nearly $7.5 million, while Bryson DeChambeau has a claim of roughly $5.7 million. The PIF agreed to provide $49.6 million in debtor-in-possession financing to support restructuring.
- CEO Scott O'Neil announced plans for 'LIV Golf 2.0,' intending to return in 2027 with a restructured format featuring 75 players, a 54-hole cut, and Monday qualifiers to build a more sustainable future.
- O'Neil proposed a new ownership model where players would feature as majority owners in a reduced schedule, as the league aims to tap successful markets in Australia, South Africa, and Asia.
24 Articles
24 Articles
LIV Golf's Australian Partner Couldn't Care Less About Bankruptcy as PGA Tour Secures $2M Seat
South Australia is hedging its bets on LIV Golf. With the PGA Tour now committing $2 million to elevate the Australian Open at the same venue, Premier Peter Malinauskas made clear the state is no longer fully reliant on LIV’s future. “They intend to be here next year, but I’m not banking on the fact […]
After the withdrawal of the Saudi State Fund PIF, LIV Golf is insolvent. There is talk of liabilities up to a billion dollars, the creditor list reveals interesting insights.
The billion-dollar company LIV Golf, financed by Saudi Arabia, is going bankrupt. A sport that is almost all about money is left behind – and a warning for the rest of the sports world.
LIV Golf files for Chapter 11 bankruptcy protection as it enters its 'next phase'
LIV Golf has filed for Chapter 11 bankruptcy in New Jersey, seeking to restructure after Saudi Arabia’s Public Investment Fund cut off support for the big-spending rival to the PGA Tour.
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