LIV Golf Files for Bankruptcy; Reveals Staggering Debt List

LIV Golf and related entities filed for Chapter 11 bankruptcy protection in the U.S. Bankruptcy Court for the District of New Jersey on September 8, beginning a court-supervised restructuring that the league hopes will allow it to return to competition in 2027.

The league estimated that it has between $100 million and $500 million in assets compared with liabilities ranging from $500 million to $1 billion.

“Now it is time to enter the next phase of LIV Golf,” Scott O’Neil, LIV CEO, said. “Today, we took an important step forward to get there. LIV Golf has entered a court-supervised restructuring process that provides us with the time and framework to address previous financial obligations and complete a transaction that will make the League’s next phase a reality.

“Put simply, this process is designed to build a stronger and more sustainable future for LIV Golf.”

LIV Golf Owes Millions to Rahm, DeChambeau and Other Stars

Some of the biggest names LIV recruited during its aggressive challenge to golf’s established tours are now among its largest unsecured creditors.

Jon Rahm is listed as being owed approximately $7.5 million, while Bryson DeChambeau has an unsecured claim of roughly $5.7 million. Dustin Johnson is owed approximately $5.5 million, with Cameron Smith, Tyrrell Hatton and Brooks Koepka also among the prominent players listed as creditors.

The claims represent amounts that were already due when the bankruptcy case was filed and do not necessarily represent the total remaining value of the golfers’ agreements with LIV.

Here is a list of 30 unsecured creditors, per Golfweek:

LIV Golf Plans 2027 Return After Bankruptcy

Despite the filing, LIV is publicly maintaining that it intends to play again in 2027.

“I think Bryson might stick around,” Drew Stoltz, PGA player, said. “If there is a LIV 2.0, I think they are gonna give him half the league in equity. And he might just want to be the show.”

LIV has said its proposed next phase will continue to emphasize team golf while more closely aligning the financial interests of players and the league. The organization is also seeking recognition of its Chapter 11 proceedings in England and Wales in an effort to protect its international assets and operations during the restructuring.

Saudi Arabia’s Public Investment Fund, which has invested more than $5 billion in LIV since the circuit launched in 2022, is expected to provide $49.6 million in debtor-in-possession financing, subject to court approval.

PIF announced earlier this year that it would stop funding LIV after the 2026 season. BC Partners Credit and potential minority investors are expected to provide financing for the reorganized business as it exits bankruptcy.

The league canceled or altered events as it adjusted its operations, while multiple vendors pursued legal action over allegedly unpaid bills. LIV’s season ultimately ended earlier than originally planned, adding to questions about whether the circuit could continue without the level of financial support it had received from PIF.

“As the 2026 LIV Golf season comes to a close after incredible competition across 10 countries and five continents, we reflect on record crowds, broadcast viewership, marketing partner support and social growth, alongside historic comebacks, emerging young talent, OWGR recognition and new pathways to the majors,” O’Neil said in August.

“By concluding the season now, we can put our full resources behind what comes next and maintain the operational rigor this transition demands.”