LIV Golf seeks Chapter 11, freeing players from contracts
LIV Golf filed for US bankruptcy protection on Tuesday, a move that frees all players from their existing contracts after Saudi Arabia’s Public Investment Fund withdrew its funding. The chapter 11 filing is designed to preserve the company’s business while allowing it to reorganise its debts.
Following the withdrawal, the league announced a new investor, BC Partners. The partnership aims to move the league into a player‑owned, sustainable model and to negotiate new terms with players.
Under Chapter 11, former contracts are set to dissolve, meaning players can operate without a legal obligation to LIV. They will also have the chance to explore opportunities with other tours, though the timeline for such negotiations remains unclear.
The new structure will see prize money positioned between the PGA Tour and the DP World Tour, field sizes expanded to 75 players, and the introduction of cuts and qualifiers. The league also plans to support teams that capture national identities and grow into enduring sports businesses.
This bankruptcy filing marks a pivotal shift for LIV Golf, potentially reshaping the sport’s landscape and the financial futures of its players.
