LIV Golf officially files for bankruptcy protection; Rahm, Bryson owed millions — SkimNews
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- LIV Golf voluntarily filed for Chapter 11 protection in the U.S. Bankruptcy Court of New Jersey on Tuesday, reporting $100 million to $500 million in assets against $500 million to $1 billion in liabilities.
- Jon Rahm tops the golfer-creditor list at $7.5 million owed, followed by Bryson DeChambeau ($5.7M), Dustin Johnson ($5.5M), Cameron Smith ($4.8M), Tyrrell Hatton ($3.4M) and Brooks Koepka ($1.7M) — roughly $28.6 million in past-due payments to the six largest player creditors.
- Saudi Arabia's Public Investment Fund will provide $49.6 million in debtor-in-possession financing subject to court approval, despite announcing in April it would no longer fund the breakaway circuit; PIF has invested more than $5 billion in LIV since its June 2022 launch.
- LIV Golf signed a restructuring support agreement with BC Partners Advisors, plans to return to competition in 2027, and said the league is expected to become majority owned by its players under CEO Scott O'Neil.
- O'Neil described the restructuring as building "a stronger and more sustainable future," with plans to expand fields to 75 golfers, add Monday qualifiers, and host events in Australia, South Africa, Mexico, England, and Hong Kong.
- LIV Golf is seeking recognition of its U.S. Chapter 11 proceedings in England and Wales to preserve international assets after canceling its New Orleans event, season-ending Michigan stop, and halving the Indianapolis purse.
Why it matters: The filing reveals how thin LIV's runway had become — six marquee players alone are owed roughly $28.6 million in unpaid winnings, and the league faces additional vendor lawsuits including Louisiana's $1.2 million claim. PIF's continued $49.6 million backstop, even after publicly pulling funding in April, keeps Saudi Arabia as the financial anchor while LIV pivots to a player-owned model for a planned 2027 relaunch.
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