playMark SchlabachSep 8, 2026, 05:24 PM ETCloseSenior college football writer Author of seven books on college football Graduate of the University of GeorgiaMultiple AuthorsOpen Extended ReactionsLIV Golf and its related entities voluntarily filed for Chapter 11 protection in the U.S. Bankruptcy Court of New Jersey on Tuesday, according to court records.The league indicated it had between $100 million and $500 million in assets and $500 million to $1 billion in liabilities.Jon Rahm ($7.5 million), Bryson DeChambeau ($5.7 million), Dustin Johnson ($5.5 million), Cameron Smith ($4.8 million), Tyrrell Hatton ($3.4 million) and Brooks Koepka ($1.7 million) are among the league’s creditors with the 30 largest unsecured claims, according to court records. Those totals reflect the past-due payments owed to the golfers but not what is owed to them beyond the bankruptcy filing date.In a statement, LIV Golf said that it has entered a restructuring support agreement with BC Partners Advisors and that it had voluntarily entered a court-supervised restructuring process under Chapter 11.The league said it plans to return to competition in 2027 and is expected to be majority owned by its players.”Now it is time to enter the next phase of LIV Golf,” CEO Scott O’Neil said in a letter to fans. “Today, we took an important step forward to get there.
LIV Golf has entered a court-supervised restructuring process that provides us with the time and framework to address previous financial obligations and complete a transaction that will make the League’s next phase a reality. Put simply, this process is designed to build a stronger and more sustainable future for LIV Golf.”In a news release, LIV Golf said it is seeking recognition of its U.S. Chapter 11 proceedings in England and Wales to “preserve the value of its international assets and operations.”The league said Saudi Arabia’s Public Investment Fund, which announced in April that it would no longer fund the breakaway circuit, will provide $49.6 million in financing, subject to court approval.The PIF has invested more than $5 billion into LIV Golf since its first tournament in June 2022 and was reportedly spending $100 million per month this year. PIF governor Yasir Al-Rumayyan stepped down as LIV Golf chairman shortly after the sovereign wealth fund ceased its funding.LIV Golf said BC Partners Credit and other potential minority investors are expected to provide exit financing.”The next phase of LIV Golf will be built around a sustainable business model and deeper alignment between players and the League, with team golf at its core,” O’Neil said in the letter.
“Players will have the opportunity to share directly in the value they help create, while teams will be positioned to grow into enduring global sports businesses. And fans will remain at the center of everything we do.”Though international events in Australia, South Africa and elsewhere were successful, LIV Golf struggled to gain momentum in the U.S. As part of its restructuring this year, LIV Golf canceled an event in New Orleans and its season-ending event in Michigan. The individual purse for a tournament in Indianapolis was cut in half, and two concerts were canceled.The league faces several lawsuits from multiple vendors that say they provided services but haven’t been paid.
The state of Louisiana is listed among the largest creditors and is purportedly owed $1.2 million.In the letter to fans, O’Neil indicated LIV Golf’s plans include events in Australia, South Africa, Mexico, England, Hong Kong and the U.S. The circuit intends to expand its fields to 75 golfers and create additional pathways into LIV Golf, including Monday qualifiers.
