McIlroy: DP World Tour Can Benefit From LIV Demise
The breakaway circuit filed for Chapter 11 to preserve operations while restructuring and finding new backing, with 49.6 million dollars in financing from PIF.
- On Tuesday, LIV Golf filed for Chapter 11 bankruptcy protection in the United States, intending to "preserve the company's business as a going concern" during restructuring.
- Following withdrawal of funding from Saudi Arabia's Public Investment Fund earlier this year, LIV faces liabilities between $500m and $1bn, prompting plans for a sustainable "LIV 2.0."
- Players including Jon Rahm and Bryson DeChambeau may now be free to leave due to the bankruptcy filing, while the DP World Tour reported a "high volume" of inquiries from interested golfers.
- At a Wednesday press conference ahead of his Irish Open defence at Doonbeg, Rory McIlroy predicted players will depart, stating their incorporation would be "a good thing" for the golf ecosystem.
- LIV 2.0 receives $49.6 million in debtor-in-possession financing from PIF to begin in early 2027, while the PGA Tour strengthens its position with a $1.5bn investment from the Strategic Sports Group.
27 Articles
27 Articles
Rory McIlroy names major consequence for LIV Golf as stars consider their futures
Rory McIlroy believes LIV Golf could lose several of its biggest names after the crisis-hit breakaway circuit filed for Chapter 11 bankruptcy protection in the United States.The Northern Irishman expects players to consider walking away from LIV after its financial problems were laid bare in court documents filed in New Jersey.McIlroy suggested the bankruptcy proceedings could allow some golfers to escape their long-term agreements, although the…
The future of Joaquín Niemann at LIV Golf was surrounded by uncertainty after the Saudi circuit began a bankruptcy process in the United States, a decision that seeks to ensure the continuity of the competition, but that could also mark a before and after in its structure. The league announced that it adopted a ... Continue reading "LIV Golf declares bankruptcy and questions the future of Joaquín Niemann on the circuit"
The LIV tour for golf professionals, supported by Saudi Arabia, has filed for bankruptcy and is about to be rebooted! Already in April, it had been reported that the investments were no longer in line with the strategy of the state investment fund PIF, which had invested more than five billion US dollars in the league since the start of 2022. But what does the financial crisis mean for the golf stars and how does it go on for them?
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