Topline
LIV Golf, the golf league once backed by Saudi Arabia’s Public Investment Fund, filed for Chapter 11 bankruptcy protection on Tuesday, which listed multiple top players owed millions of dollars.
Jon Rahm of Legion XIII gets ready to putt on the 12th green during day four of LIV Golf Indianapolis at The Club at Chatham Hills on August 23, 2026 in Westfield, Indiana.
Photo by Michael Miller/ISI Photos/ISI Photos via Getty Images
Key Facts
LIV announced the “strategic action to secure its next era” Tuesday and said it entered a restructuring deal with BC Partner Advisors LP designed to “preserve the company’s business as a going concern through an innovative player-first ownership model.”
The reorganized company is expected to be majority owned by players, whom LIV says they are in advanced talks with.
The move comes five months after Saudi Arabia’s Public Investment Fund announced it would stop backing LIV following the 2026 season, which ended one week ahead of schedule in August.
The investment fund has agreed to providing LIV with $49.6 million in debt financing to keep it afloat.
Big Number
$500 million to $1 billion. That is how much money in liabilities LIV has reported, with as many as 5,000 creditors included.
Which Players Are Owed Money?
Jon Rahm is owed $7.4 million—the highest figure of any creditor, according to USA Today, which reported 27 names on the list are owed a combined $64.2 million. That payback extends to Bryson DeChambeau ($5.8 million), Dustin Johnson ($5.5 million), Cameron Smith ($4.8 million), Adrian Meronk ($4.4 million) and Tyrell Hatton ($3.4 million). LIV is disputing DeChambeau and Johnson’s claims, USA Today noted.
Key Background
LIV launched in 2022 after a multibillion-dollar investment from Saudi Arabia’s Public Investment Fund, stirring up controversy and criticism it was attempting to buy its way into the sport of golf, which has been historically dominated by the PGA Tour in the United States. The massive funding allowed LIV to poach players from the PGA Tour, with Rahm’s contract alone reportedly worth over $350 million. Players who joined LIV faced suspensions from PGA Tour events, with the league also instituting a temporary window for major players to return. Brooks Koepka returned early this year but was subject to penalties including the forfeiture of player equity shares and bonus eligibility. Speculation around LIV’s shutdown began spreading this year as it lost funding from Saudi Arabia, which led to the layoff of employees and scheduling issues while it finished out its 2026 season.
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