LIV Golf Files Chapter 11 Amid $500M-$1B Debt and Litigation
LIV Golf filed for Chapter 11 bankruptcy in New Jersey court on September 8, 2026.
Why it matters: This bankruptcy filing highlights complex legal and financial challenges sports organizations face, crucial for bankruptcy and sports law professionals.
- LIV Golf's liabilities estimated between $500 million and $1 billion.
- Saudi Arabia's Public Investment Fund provided $49.6 million debtor-in-possession financing.
- Top players like Jon Rahm are among unsecured creditors, with Rahm owed around $7.5 million.
- Asian Tour canceled 2027 Qualifying School due to a $20 million funding shortfall after partnership ended.
Saudi-backed LIV Golf filed for Chapter 11 bankruptcy protection in the U.S. Bankruptcy Court for the District of New Jersey on September 8, 2026, citing liabilities estimated between $500 million and $1 billion. This legal move comes after Saudi Arabia's Public Investment Fund (PIF) withdrew broader funding support but provided $49.6 million in debtor-in-possession financing to facilitate the bankruptcy process. The LA Times reports the financing aims to stabilize LIV Golf while it pursues restructuring.
LIV Golf has entered a Restructuring Support Agreement (RSA) with private equity firm BC Partners Advisors focused on emerging from bankruptcy with a new ownership model dominated by players. CEO Scott O’Neil stated, "This process gives us the structure and time to pursue a landmark transaction and begin the next chapter of LIV Golf – one built around the fans, an innovative, player-first ownership model, and a part of the global golf ecosystem." The RSA details remain confidential.
Among the league's largest unsecured creditors are leading players such as Jon Rahm, who is reportedly owed around $7.5 million, and Bryson DeChambeau. This highlights the financial complexities and obligations LIV Golf faces toward its contracted talent.
The bankruptcy filing has also impacted the global golf ecosystem. The Asian Tour canceled its 2027 Qualifying School, citing a devastating $20 million funding shortfall directly linked to the dissolution of its partnership with LIV Golf. Asian Tour CEO Cho Minn Thant described the loss as "a devastating and unexpected blow," underscoring the ripple effects on event funding and tour operations. Golf Monthly covers these developments.
Launched in 2022 with substantial PIF backing, LIV Golf sought to disrupt traditional golf leagues by offering lucrative contracts to top-ranked players. However, financial difficulties culminated in the withdrawal of PIF's broader support after the 2026 season, precipitating this bankruptcy filing. The restructuring aims to reposition LIV Golf within the global golf ecosystem, with a player-centric ownership model expected to take shape by early 2027.
By the numbers:
- $500M-$1B — LIV Golf's estimated liabilities in Chapter 11 filing
- $49.6M — Debtor-in-possession financing provided by Saudi Arabia's Public Investment Fund
- $7.5M — Amount owed to top player Jon Rahm, an unsecured creditor
- $20M — Asian Tour's funding shortfall after LIV Golf partnership ended
Yes, but: Details of the Restructuring Support Agreement with BC Partners are confidential, leaving specifics of the league's reorganization unclear.
What's next: LIV Golf aims to emerge from bankruptcy by early 2027 under a player-majority ownership model facilitated by BC Partners.