LIV Golf files for Chapter 11 as restructuring targets 2027 return

LIV Golf filed for Chapter 11 bankruptcy protection in New Jersey on Tuesday, beginning a court-supervised restructuring that the league says is intended to preserve the business and prepare a new competition model for 2027. The Associated Press reported that the filing listed more than $500 million in debt, while the official case site confirms the September 8 filing under case number 26-20189.

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According to the Associated Press, LIV estimated its assets at between $100 million and $500 million and its liabilities at between $500 million and $1 billion. The report said 14 players appeared among the league's 30 largest creditors, with Jon Rahm holding the largest listed unsecured player claim at nearly $7.5 million. Bryson DeChambeau, Dustin Johnson and Cameron Smith were also among the leading creditors.

The filing follows the withdrawal of financial backing by Saudi Arabia's Public Investment Fund earlier in 2026. LIV said the fund has agreed to provide $49.6 million in debtor-in-possession financing, subject to court approval, to support operations during the bankruptcy process. Chapter 11 allows a company to continue operating while it seeks approval for a reorganization plan.

LIV also announced a restructuring support agreement with BC Partners Credit. Under the proposal, BC Partners and any additional investors would provide exit financing for a recapitalized business. The plan remains subject to the bankruptcy court, and the league has not yet completed the transaction or secured its proposed return.

Chief executive Scott O'Neil said in LIV's announcement that the process would give the organization time and structure to pursue the transaction. The Associated Press reported that the planned version of the league would expand its field from 57 to 75 players, introduce a 54-hole cut and add Monday qualifying, with players intended to become majority owners.

BBC Sport reported that players under contracts with the previous version of LIV are free to leave, with outstanding amounts to be dealt with through the court process. LIV says it wants to launch the restructured league early in 2027, but participation by its leading players and final approval of the financing arrangements remain unresolved as the Chapter 11 case begins.