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LIV Golf files for Chapter 11 bankruptcy protection

sportsSep 9, 2026283,619

LIV Golf filed for Chapter 11 bankruptcy protection in the U.S. Bankruptcy Court for the District of New Jersey, saying it owes at least $45 million to players and giving those players an option to leave. The upstart league, initially backed by Saudi Arabia's Public Investment Fund, entered a restructuring support agreement with BC Partners Advisors LP and said a proposed bankruptcy deal would leave the venture majority owned by its players, subject to court approval. PIF agreed to provide $49.6 million in debtor-in-possession financing to keep LIV operating during the proceedings, and BC Partners Credit and other minority stakeholders are expected to provide financing after exit. LIV launched an investor roadshow earlier this year seeking up to $350 million and previously faced reports that PIF planned to withdraw funding at the end of the 2026 schedule. CEO Scott O'Neil said the process provides time to pursue a landmark transaction built around a player-first ownership model and that LIV remains in advanced talks with players.

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