LIV Golf filed for Chapter 11 bankruptcy protection in the U.S. District Court for the District of New Jersey on Monday, moving the Saudi-backed circuit into court supervision as it works to restructure its finances and cut a new schedule for 2027.
In a statement posted on its official site, LIV said it had entered a restructuring support agreement with BC Partners Advisors and secured $49.6 million in debtor-in-possession financing from Public Investment Fund of Saudi Arabia. The league said the plan is designed to bring its players into majority ownership of the reorganized company and to have the business emerge from Chapter 11 in early 2027.
The filing lists the largest player creditors by amount owed under LIV contracts: Jon Rahm is owed $102 million, Bryson DeChambeau $65 million and Joaquin Niemann $41 million. Public Investment Fund is identified in the filing as having spent more than $5 billion on the league since its 2022 launch.
LIV said it intends to keep operating during the reorganization and to hold a 10-event schedule in 2027.
The Chapter 11 process moves LIV’s finances into public court records and gives creditors formal standing in the restructuring. The next hearings in the New Jersey filing will set the timeline for the plan and the schedule cuts.
