LIV Golf has initiated Chapter 11 bankruptcy proceedings in the United States, a move the organization describes as a necessary step to preserve its business operations. The filing follows the decision by Saudi Arabia’s Public Investment Fund (PIF) in April to withdraw its multibillion-dollar financial backing. In response to the funding shortfall, the league has secured a new investor in BC Partners.
The bankruptcy petition reveals significant financial strain, with the organization estimating its assets between $100m and $500m against liabilities ranging from $500m to $1bn. Court documents detail the 30 largest unsecured claims, which include substantial debts owed to current and former players. Collectively, 14 players are owed slightly more than $45m (£33m), a figure that represents unpaid amounts for the third quarter of 2026 rather than total contract values.
Two-time major champion Jon Rahm leads the list of creditors with an unsecured claim of $7.5m (£5.5m). Other notable players listed among the top 30 creditors include Bryson DeChambeau, owed $5.7m (£4.2m); Dustin Johnson, with $5.5m (£4.1m); Cameron Smith, at $4.8m (£3.5m); and Tyrrell Hatton, owed $3.4m (£2.5m). Brooks Koepka, who departed for the PGA Tour in January, also holds an unsecured claim of $1.7m (£1.25m).
Founded in 2021 with its inaugural season in 2022, the league is now looking toward a future iteration. The Chapter 11 process allows the organization to begin formal discussions with players regarding their potential participation in a new, majority player-owned league slated to launch early next year.
Crucially, the court filing effectively terminates existing contracts from the previous version of LIV Golf. While outstanding debts to players and other creditors will be addressed through the court-supervised process, there is no obligation for athletes to sign on to the proposed “LIV 2.0” venture, regardless of their previous multi-year agreements. It remains unclear at this stage when players might be permitted to enter into negotiations with other professional golf tours. The report also notes that not the full amounts, a source familiar with the figures said Sport the creditors list outlines the “amount owed and not paid for Q3” of 2026.
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