Business
LIV Golf files for bankruptcy protection after Saudi backer pulls funding
September 9, 2026 at 07:02 AM
LIV Golf has filed for Chapter 11 bankruptcy protection in New Jersey as it restructures following Saudi Arabia's withdrawal of funding, owing creditors up to $1bn.
- LIV Golf filed for Chapter 11 bankruptcy protection in a New Jersey federal court on Tuesday, estimating liabilities of $500m–$1bn owed to at least 1,000 creditors, including players Jon Rahm ($7.5m) and Bryson DeChambeau ($5.7m).
- Saudi Arabia's Public Investment Fund, which withdrew funding in April, is providing a $49.6m debtor-in-possession loan to finance the process.
- LIV announced international investment firm BC Partners as its proposed new investor, with plans for a player-owned league to relaunch next year under a shorter schedule and reduced prize money.
- Jon Rahm said "time will tell" on his future, stating he still had a contract with LIV 1.0 that he was willing to fulfil.