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LIV Golf files for Chapter 11 bankruptcy in New Jersey
The league said the restructuring will bring $49.6 million in financing and shift ownership toward players under a leaner schedule.
- On Tuesday, LIV Golf filed for Chapter 11 bankruptcy in the U.S. District of New Jersey to "preserve the company's business," while seeking legal recognition in England and Wales to protect international operations.
- The filing follows months of financial uncertainty after the Saudi Public Investment Fund decided earlier this year to end its funding, prompting the league to secure new backing from BC Partners.
- Existing contracts will terminate due to the court filing, with amounts owed addressed through the process; the PIF will provide $49.6 million in debtor-in-possession financing during restructuring.
- CEO Scott O'Neil announced the restructuring aims to launch a player-majority owned "LIV 2.0" model, which proposes a reduced schedule of 10 events with significantly lower purses.
- Emergence from bankruptcy is targeted for early 2027, though it remains unclear whether players will commit to the new structure or seek opportunities with rival tours.
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LIV Goes Broke: How a Trump and Saudi-Backed Golf League Crashed and Burned
This month, LIV Golf, a sports league that promised to shake up the world of professional golf, filed for bankruptcy protection with at least $45 million owed to players. The Chapter 11 petition revealed money owed to LIV Golf's creditors,... Read more...
Thomas Detry is convinced that investors can restart the circuit provided that the players... stay. ...
·Brussels, Belgium
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Coverage Details
Total News Sources218
Leaning Left49Leaning Right29Center67Last UpdatedBias Distribution46% Center
Bias Distribution
- 46% of the sources are Center
46% Center
L 34%
C 46%
R 20%
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