LIV Golf Files For Chapter 11 Bankruptcy, Plans Switch To Innovative Model

Last Updated:September 09, 2026, 10:10 IST

LIV Golf filed for Chapter 11 bankruptcy in New Jersey, seeking to restructure with a $49.6 million loan from Saudi Arabia’s Public Investment Fund.

LIV Golf said that bankruptcy is meant to keep the league in business while transitioning to an innovative model. (AFP Photo)

LIV Golf has filed for Chapter 11 bankruptcy protection in New Jersey, beginning a restructuring process backed by a $49.6 million bankruptcy loan from Saudi Arabia’s Public Investment Fund.

The league reported between $500 million and $1 billion in liabilities and between $100 million and $500 million in assets in its bankruptcy filing.

The restructuring is expected to pave the way for LIV to continue operating under the financial backing of BC Partners Advisors L.P. The company said BC Partners, along with other potential minority investors, is expected to provide financing for LIV’s emergence from bankruptcy and support its debt restructuring. LIV also plans to shift toward a player-first ownership structure.

The move follows months of preparation for a post-PIF future. In April, the Public Investment Fund said additional investment in LIV no longer fit its strategy and planned to stop funding the league after the 2026 season. The PIF currently owns all of LIV Golf’s equity, according to the bankruptcy petition.

Since LIV launched in 2022, the PIF has put more than $5 billion into the league. LIV used substantial signing bonuses to attract prominent PGA Tour players, including Bryson DeChambeau, Jon Rahm and Dustin Johnson.

Those three players now rank as LIV’s largest unsecured creditors. The bankruptcy filing says each is owed more than $5 million.

LIV said the Chapter 11 process is designed to preserve the league while it moves toward the new player-first ownership structure. The company expects to complete the bankruptcy process by early 2027.

“We believe deeply in LIV Golf’s future, the opportunity in front of us, and the people who will help us realize it,” LIV Golf CEO Scott O’Neil said in a statement.

The bankruptcy filing comes shortly after LIV eliminated most of its workforce in August as the league sought new sources of funding.

With Reuters Inputs

Quick Answers

Powered by

Ask News18

Why did LIV Golf file for Chapter 11 bankruptcy?

LIV Golf filed for Chapter 11 bankruptcy protection in New Jersey to begin a restructuring process, following the Public Investment Fund’s decision in April to stop funding the league after the 2026 season. The move is intended to preserve the league while it transitions to a new player-first ownership structure.

What is the financial situation of LIV Golf according to its bankruptcy filing?

In its bankruptcy filing, LIV Golf reported liabilities between $500 million and $1 billion, and assets between $100 million and $500 million. The league also secured a $49.6 million bankruptcy loan from Saudi Arabia’s Public Investment Fund.

Which prominent players are listed as LIV Golf’s largest unsecured creditors?

Bryson DeChambeau, Jon Rahm, and Dustin Johnson are listed as LIV Golf’s largest unsecured creditors in the bankruptcy filing. Each of these players is owed more than $5 million.

Powered by

Ask News18

About the Author

Feroz Khan

Feroz Khan has been covering sports for over 12 years now and is currently working with Network18 as Principal Correspondent. He embarked on his journey in 2011 and has since acquired vast experience …Read More

Read More