By Field Level Media
Sep 08 (Field Level Media) - Less than five years after it held its first event and created a schism in professional golf, LIV Golf filed for Chapter 11 bankruptcy protection in New Jersey on Tuesday.
The filing -- a rare window into the league's financial state -- estimates assets between $100 million and $500 million, with liabilities between $500 million and $1 billion.
Most notably, the filing listed several star golfers as creditors still owed millions in unsecured claims.
Spaniard Jon Rahm has the largest claim among players at $7.5 million, followed by Bryson DeChambeau ($5.7 million), Dustin Johnson ($5.5 million), Cameron Smith of Australia ($4.8 million), Tyrrell Hatton of England ($3.4 million) and Brooks Koepka ($1.7 million). Koepka left the league at the start of 2026.
LIV Golf was bankrolled by the Saudi Public Investment Fund from its inception in 2022 until this year, when the sovereign wealth fund decided to step away. LIV's decision to file for bankruptcy is not a sign that it is dissolving, but rather a step toward restructuring and continuing the PGA Tour competitor under a new business plan.
CEO Scott O'Neil published a letter to fans addressing the filing.
"Now it is time to enter the next phase of LIV Golf," O'Neil wrote. "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."
O'Neil went on to say LIV intends to continue staging events in some of its more popular international destinations -- Australia, South Africa, Mexico, Hong Kong and England among them. The league also will seek to continue playing in the United States.
"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 wrote. "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."
LIV has an agreement in place with BC Partners Advisors for restructuring support.
(--Field Level Media)
