LIV Golf files for bankruptcy after Saudi fund pulls support, leaving players owed millions in unpaid money
LIV Golf filed for Chapter 11 bankruptcy in New Jersey after Saudi Arabia's Public Investment Fund halted funding to focus on domestic projects.
TL;DR
- LIV Golf filed for Chapter 11 bankruptcy protection in New Jersey.
- Its primary financial backer, Saudi Arabia's Public Investment Fund (PIF), withdrew support.
- The league owes millions in unpaid compensation to players like Jon Rahm, Bryson DeChambeau, Dustin Johnson, and Cam Smith.
- PIF provided $50 million to help LIV continue operations during bankruptcy.
- A proposed 'LIV 2.0' plan involves BC Partners funding a 2027 relaunch with player majority ownership.
- The new format would include 75-player fields, 72-hole tournaments, cuts, Monday qualifiers, and a national team structure.
- Chapter 11 proceedings are expected to void existing player contracts.