LIV Golf filed for Chapter 11 bankruptcy protection in the U.S. Bankruptcy Court for the District of New Jersey on Tuesday, 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.
Jon Rahm, Bryson DeChambeau and Joaquin Niemann rank among the highest-paid golfers of recent years on LIV contracts, with estimated total earnings of $102 million, $65 million and $41 million, respectively. Payments outstanding before the filing, including player agreements, are handled through the court. Public Investment Fund, which had put more than $5 billion into the league since its 2022 launch, pulled back its support in April and exits as a backer.
Under its revised business model, the league plans 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.
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