LIV Golf Wins Interim Court Approval to Access $14 Million in Bankruptcy Financing
- On Tuesday, September 8, LIV Golf filed for Chapter 11 bankruptcy in the U.S. Bankruptcy Court for the District of New Jersey, citing more than $500 million in debt as it begins a court-supervised restructuring process.
- Earlier this year, the Public Investment Fund of Saudi Arabia ended its financial support for the league after the 2026 season, leaving LIV Golf without its primary source of capital and forcing restructuring.
- Jon Rahm leads creditors owed nearly $7.5 million, while Bryson DeChambeau has a claim of roughly $5.7 million. The PIF agreed to provide $49.6 million in debtor-in-possession financing to support restructuring.
- CEO Scott O'Neil announced plans for 'LIV Golf 2.0,' intending to return in 2027 with a restructured format featuring 75 players, a 54-hole cut, and Monday qualifiers to build a more sustainable future.
- O'Neil proposed a new ownership model where players would feature as majority owners in a reduced schedule, as the league aims to tap successful markets in Australia, South Africa, and Asia.
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39 Articles
The decline of LIV Golf: From April's shocking funding loss to September's bankruptcy
One of professional golf’s more turbulent eras reached a new milestone on Tuesday, when LIV Golf filed for bankruptcy and announced plans to restructure ahead of its 2027 season.
Golf-LIV Golf wins interim court approval to access $14 million in bankruptcy financing
Sept 10 (Reuters) - LIV Golf said on Thursday that a U.S. bankruptcy court granted interim approval of its first-day Chapter 11 motions, allowing the professional men's golf league to access $14 million of debtor-in-possession financing and continue p...
Channel News Asia
PressNewsAgencyLIV Golf wins interim court approval to access $14 million in bankruptcy financing
Sept 10 : LIV Golf said on Thursday that a U.S. bankruptcy court granted interim approval of its first-day Chapter 11 motions, allowing the professional men's golf league to access $14 million of debtor-in-possession financing and continue pursuing a recapitalization plan backed by BC Partners Credit.The U.S.
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