LIV Golf files bankruptcy plan and sets sight on January liquidation

Summary

• LIV Golf filed a Chapter 11 bankruptcy plan in a New Jersey court on Tuesday.
• A final hearing on the disclosure statement is scheduled for Jan. 7 to begin the liquidation process.
• The filing follows the Public Investment Fund of Saudi Arabia ending its funding after the 2026 season.
• A proposed restructuring agreement with BC Partners Credit failed due to insufficient player participation.
• LIV Golf reported approximately $5 billion in equity capital from the Public Investment Fund.
• The league operated at a loss, with 289 employees laid off & 22 others furloughed before the filing.
• $15.6 million in retention bonuses was paid to seven executives to complete the 2026 season.
• A conditional hearing for the disclosure statement is set for Nov. 24.
• A wind-down trust will oversee creditor payments, legal claims, & other financial matters.
• Judge approved Jon Rahm's separation, costing him a reported $100 million in owed compensation.
• Other LIV players remain banned by the PGA Tour & face uncertainty regarding future tournament eligibility.
• The PGA Tour has not indicated a path back for players until bankruptcy proceedings conclude.