9 Hrs
Source:
Los Angeles Times
LIV Golf seeks Chapter 11 protection
LIV Golf has filed for Chapter 11 bankruptcy in New Jersey after Saudi Arabia’s Public Investment Fund withdrew financial support. The league aims to restructure through a deal with BC Partners, introducing a new ownership model with players as majority owners, expanding tournament fields, and implementing a 54-hole cut. The bankruptcy listing shows assets between $100 million and $500 million and liabilities up to $1 billion, with top players like Jon Rahm and Bryson DeChambeau among creditors. The move is part of LIV’s efforts to build a sustainable future without Saudi funding.
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