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[SPORTS] · United States, Saudi Arabia · 52 sources

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LIV Golf files for Chapter 11 bankruptcy protection

LIV Golf has filed for Chapter 11 bankruptcy protection in a New Jersey federal court following the withdrawal of primary financial support from Saudi Arabia’s Public Investment Fund (PIF). The league, which launched in 222 as a competitor to the PGA Tour, faces estimated liabilities between $500 million and $1 billion, while its assets are valued between $100 million and $500 million.

As part of the restructuring, LIV Golf has entered an agreement with BC Partners Credit to facilitate a recapitalization. The proposed new business model aims to transition the league into a player-majority ownership structure, with the organization intending to re-emerge in a new form by early 2027. The reorganized tour may feature a reduced tournament calendar and an expanded player field of 75.

Several high-profile golfers are among the league’s largest unsecured creditors. Jon Rahm is owed approximately $7.5 million in past-due payments, while Bryson DeChambeau, Dustin Johnson, and Cameron Smith also hold significant claims. The bankruptcy process allows the league to continue operations while negotiating these obligations and seeking new investment.

Entities

BC Partners · BC Partners Credit · Bryson DeChambeau · Jon Rahm · LIV Golf · Public Investment Fund · Scott O’Neil

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