LIV Golf Files for Chapter 11 Bankruptcy Protection

LIV Golf, the breakaway professional golf league, has filed for Chapter 11 bankruptcy protection in a New Jersey court amid mounting financial difficulties. According to its bankruptcy filing, the league has estimated liabilities of between $500 million and $1 billion, while its assets are valued at around $100 million to $500 million. Several high-profile golfers are among its major unsecured creditors, with Jon Rahm, Bryson DeChambeau and Dustin Johnson each owed millions of dollars.

The financial troubles intensified after Saudi Arabia’s Public Investment Fund (PIF), which had provided more than $5 billion to LIV since its launch, decided to end further funding after the 2026 season. However, PIF has agreed to provide around $49.6 million in debtor-in-possession financing, subject to court approval, to help LIV continue through the restructuring process. The league has also reached a restructuring agreement with BC Partners and is looking to move toward a player-first ownership model, with the aim of continuing its operations in a restructured form.