NEW JERSEY — LIV Golf has voluntarily filed for Chapter 11 bankruptcy protection, marking a dramatic turning point for the breakaway golf league after Saudi Arabia’s Public Investment Fund poured more than $5 billion into the venture since its 2022 launch.
Court filings show LIV Golf and related entities reported $100 million to $500 million in assets, against estimated liabilities of $500 million to $1 billion.
Several of golf’s biggest stars are listed among its largest unsecured creditors. Jon Rahm is reportedly owed $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 in past-due payments.
The filing follows the Saudi PIF’s decision earlier this year to stop its regular funding of the league. According to the report, LIV had been spending about $100 million per month this year and had already scaled back operations, cancelled events and reduced some tournament prize money.
LIV CEO Scott O’Neil described the bankruptcy process as the beginning of the league’s “next phase,” rather than its end. LIV says it plans to restructure its finances, return to competition in 2027 and eventually become majority owned by its players, with team golf remaining central to its business model.
The league says its future schedule could include tournaments in the United States, Australia, South Africa, Mexico, England and Hong Kong, while expanding its field to 75 golfers.
The Chapter 11 filing therefore does not mean LIV Golf is immediately shutting down. It allows the organization to restructure its debts under court supervision while attempting to build a financially sustainable version of the league.