LIV Golf: Players free to leave after competition files for bankruptcy protection
- On Tuesday, LIV Golf filed for Chapter 11 bankruptcy in the U.S. District of New Jersey to "preserve the company's business," while seeking legal recognition in England and Wales to protect international operations.
- The filing follows months of financial uncertainty after the Saudi Public Investment Fund decided earlier this year to end its funding, prompting the league to secure new backing from BC Partners.
- Existing contracts will terminate due to the court filing, with amounts owed addressed through the process; the PIF will provide $49.6 million in debtor-in-possession financing during restructuring.
- CEO Scott O'Neil announced the restructuring aims to launch a player-majority owned "LIV 2.0" model, which proposes a reduced schedule of 10 events with significantly lower purses.
- Emergence from bankruptcy is targeted for early 2027, though it remains unclear whether players will commit to the new structure or seek opportunities with rival tours.
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LIV Golf Files for Chapter 11, Proposes Majority Player Ownership
نُشر هذا المقال أولاً عبر Cedarnews.net. لمتابعة المزيد من الأخبار والتقارير الحصرية، زورونا على موقعنا. LIV Golf has filed for Chapter 11 bankruptcy protection in New Jersey and entered a restructuring support agreement with BC Partners Advisors, according to the company. The proposed transaction would leave the reorganized company majority owned by players. LIV Golf expects to emerge from the restructuring process in early 2027. Saudi PIF Agre…
LIV Golf file for bankruptcy protection with 'players free to leave' for nothing
LIV Golf file for bankruptcy protection with 'players free to leave' for nothing . The Saudi-backed breakaway golf league LIV Golf sought Chapter 11 bankruptcy protection in the United States on Tuesday, following the withdrawal of its multibillion-dollar funding from Saudi Arabia
LIV Golf: Players free to leave after competition files for bankruptcy protection
LIV Golf files for bankruptcy protection as it attempts to restructure after Saudi Arabia withdrew its multibillion dollar funding - a move that means all its players are free to leave.
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