LIV Golf seeks bankruptcy protection as Saudi backing disappears
The tour filed for Chapter 11 in New Jersey, aiming to restructure and return under a new ownership model after losing Saudi support.
LIV Golf has lodged a Chapter 11 petition in a New Jersey court, signalling the end of its current incarnation after the Public Investment Fund withdrew its multi‑billion‑dollar backing earlier this year. The filing lists liabilities between $500 million and $1 billion owed to more than 1,000 creditors, including top players such as Bryson DeChambeau and Jon Rahm.
Why the filing matters
The collapse threatens the future of a tour that has reshaped professional golf since its 2022 launch, drawing talent away from the PGA Tour with lucrative contracts funded by Saudi Arabia’s sovereign wealth. With the PIF now offering a $50 million loan to aid the restructuring, the tour’s ability to meet past‑due payments, some exceeding $5 million per player, is in doubt. The financial strain also raises questions about the viability of the tour’s planned global schedule and its promised “player‑first” ownership model.
What comes next
CEO Scott O'Neil told reporters, "
This process gives us the structure and time to pursue a landmark transaction and begin the next chapter of LIV Golf." He added that the organisation intends to relaunch next season with a shorter schedule, a reduced prize fund and an expanded field of 75 players, introducing cuts and Monday qualifiers. The tour also plans to host events across five continents, including stops in Australia, South Africa, Mexico, England, Hong Kong and the United States, while preserving its team‑based, music‑filled format aimed at younger fans.
Key uncertainties remain around the participation of star golfers. Dustin Johnson, Jon Rahm and Bryson DeChambeau each hold unsecured claims of more than $5 million, and their decisions will shape the credibility of any new version. While rumours swirl about a possible return to the PGA Tour, the PGA has said it has no current pathway for former LIV players.
The restructuring effort is being overseen with the help of British private‑equity firm BC Partners, long speculated to be the tour’s next lead investor. LIV also seeks recognition of its U.S. bankruptcy filing in England and Wales to protect assets estimated between $100 million and $500 million.
Should the plan materialise, the sport could see a hybrid model where players share in league value, but the timeline for a 2027 schedule or specific events remains undefined.
