22 Hrs
Source:
عربي21
Leviv Golf seeks protection amid Saudi investor exit
Levy Golf has filed for bankruptcy protection after losing its Saudi investors and accumulating debts ranging between $500 million and $1 billion to over a thousand creditors, including two prominent players, Bryson DeChambeau and Jon Rahm. The investigation and restructuring aim to rebuild the tour with a new approach focused on sharing value with players and achieving long-term sustainability. Ongoing discussions are also taking place regarding the creation of a new ownership model that prioritizes players' interests, following the loss of support from the Saudi Public Investment Fund and the cancellation of key events. Meanwhile, the organization plans to return to competition next year.
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