LIV GOLF FILES FOR BANKRUPTCY AS PLAYERS OWED MILLIONS
Jon Rahm is the Legion XIII captain that Northern Ireland’s Tom McKibbin also competes with alongside team mates Tyrrell Hatton and Caleb Surratt. (Photo: LIV Golf)
LIV Golf has filed for Chapter 11 bankruptcy protection in the United States, plunging the Saudi-backed breakaway league into the most serious crisis since its controversial launch four years ago.
The league filed in the United States Bankruptcy Court for the District of New Jersey on Tuesday, revealing liabilities estimated at between $500 million and $1 billion, while its assets were put at between $100 million and $500 million.
Among the most striking details was the money still owed to LIV players. Reports based on the bankruptcy documents put the total outstanding player claims at around $45 million, with several of the biggest names in the sport listed among the league's major unsecured creditors.
Jon Rahm is listed with a claim of approximately $7.5 million, while Bryson DeChambeau is owed $5.7 million and Dustin Johnson $5.5 million. Cameron Smith and Tyrrell Hatton are also among the players with multimillion-dollar claims.
The figures represent claims recorded in the bankruptcy process and do not necessarily reflect the full value of players' remaining contracts. Some LIV agreements run for several years and are potentially worth tens of millions of dollars.
For the players, the filing could represent a significant change in their contractual position as LIV attempts to restructure rather than simply close its doors.
LIV insists that bankruptcy does not mean the end of the league.
Chief executive Scott O'Neil said the restructuring process would provide the organisation with an opportunity to rebuild around its players and fans.
“This process gives us the structure and time to pursue a landmark transaction and begin the next chapter of LIV Golf – one built around the fans, an innovative, player-first ownership model, and a part of the global golf ecosystem,” O'Neil said.
He added: “We believe deeply in LIV Golf’s future, the opportunity in front of us, and the people who will help us realize it.”
The proposed rescue plan involves private equity group BC Partners and would see the reorganised LIV become majority owned by its players. The league said it hopes to emerge from Chapter 11 in early 2027.
Saudi Arabia's Public Investment Fund (PIF), which has reportedly invested more than $5 billion in LIV since its creation in 2022, has agreed to provide almost $50 million in debtor-in-possession financing, subject to court approval.
The financial difficulties mark a dramatic reversal for a competition that transformed professional golf by offering enormous signing fees and prize funds to lure established stars away from the PGA Tour and DP World Tour.
Northern Ireland's Tom McKibbin is among the younger generation of players whose futures are now tied to the proposed new era. Graeme McDowell also features on LIV.
The 23-year-old from Belfast joined LIV in 2025, becoming part of Jon Rahm's Legion XIII team after making his mark on the DP World Tour. He has remained with the team alongside Rahm, Tyrrell Hatton and Caleb Surratt.
McKibbin has also established himself as one of LIV's emerging young players, and his position under any new ownership structure will be closely watched in Northern Ireland.
LIV's official 2026 standings placed McKibbin among the league's established competitors, while the organisation has continued to promote him as one of its leading young talents.
The league's financial problems have been building throughout the year. The PIF announced that its direct funding would end following the 2026 season, while LIV subsequently cut a large proportion of its workforce as it attempted to secure new investment.
LIV chairman Gene Davis said the bankruptcy action was intended to protect what had already been built.
“The Board’s priority is to protect what they have built,” Davis said. “We believe today’s actions reflect the most responsible path forward for the League and its stakeholders.”
The proposed restructuring remains subject to approval by the bankruptcy court and other stakeholders.
For LIV's players, however, the immediate question is whether the promised new era can deliver the financial security that helped make the league such a powerful force in professional golf in the first place.