LIV Golf Files Bankruptcy, Plans 2027 Relaunch

LIV Golf has filed for Chapter 11 bankruptcy protection in New Jersey, seeking to restructure liabilities estimated at $500 million to $1 billion while continuing operations and developing a slimmer “LIV 2.0” for 2027. The filing follows Saudi Arabia’s Public Investment Fund withdrawing its multibillion-dollar backing after investing more than $5 billion, although the fund has agreed to provide $49.6 million in interim financing subject to court approval. More than 30 creditors are listed, including Jon Rahm, Bryson DeChambeau, Dustin Johnson, Cameron Smith, Tyrrell Hatton and former LIV player Brooks Koepka, with Rahm owed $7.5 million and the others between $1.7 million and $5.7 million; golf influencer Rick Shiels and Louisiana are also among the major creditors. BC Partners is expected to lead the restructuring, which could involve a shorter schedule, reduced prize money, greater player ownership and changes to existing contracts. LIV intends to preserve major international events and continue competing in the United States, while players including Rory McIlroy and Lee Westwood have indicated that some golfers may leave or reassess their futures.