LIV Golf Files for Chapter 11 With More Than $45 Million Owed to Players

LIV Golf has filed for Chapter 11 bankruptcy protection in the United States, with court documents showing that more than $45 million is owed to 14 current and former players listed among its 30 largest unsecured creditors. BBC Sport reported that the filing was made Tuesday in New Jersey as the breakaway golf league attempts to reorganize after Saudi Arabia's Public Investment Fund decided to withdraw its multibillion-dollar backing.

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The petition estimates LIV's assets at between $100 million and $500 million, while liabilities are placed between $500 million and $1 billion. A source familiar with the figures told BBC Sport that the player claims represent amounts owed and unpaid for the third quarter of 2026, rather than the full value of the players' agreements.

Jon Rahm has the largest unsecured player claim listed, at $7.5 million. Bryson DeChambeau is listed at $5.7 million, Dustin Johnson at $5.5 million, Cameron Smith at $4.8 million and Tyrrell Hatton at $3.4 million. Brooks Koepka, who left LIV to rejoin the PGA Tour in January, is listed with a $1.7 million claim.

LIV said the court-supervised process is intended to preserve the business while it addresses earlier financial obligations and pursues a proposed investment from BC Partners. PIF is providing $49.6 million in debtor-in-possession financing to support the restructuring. When it announced the end of its funding, PIF said the longer-term investment LIV required no longer matched its strategy.

The filing could also reshape the player roster. BBC Sport reported that players will have no obligation to join the planned successor competition, described as LIV 2.0, even if they previously held multiyear LIV contracts. Sources told the broadcaster that contracts tied to the prior version of LIV will end through the filing, although it remains uncertain when players may begin negotiations with other tours.

LIV intends to launch a majority player-owned league early next year under a more sustainable model. Its outline includes equity for players, the return of individual commercial rights, fields expanded to 75 golfers, a cut, qualifying routes and additional nationally identified teams. Proposed purses would be smaller than PGA Tour events but larger than those on the DP World Tour. The Chapter 11 process now provides the framework for LIV to pursue that plan while the court addresses claims from players and other creditors.