LIV Golf Files for Bankruptcy Amidst Strategic Reshuffle

LIV Golf, a professional men's golf league, filed for Chapter 11 bankruptcy in New Jersey, supported by a $49.6 million loan from Saudi Arabia's Public Investment Fund. With significant liabilities, the company aims to transition to a player-first model backed by new investors, targeting a 2027 bankruptcy exit.

LIV Golf, a professional men's golf league, has filed for Chapter 11 bankruptcy in New Jersey, aiming to restructure with a $49.6 million loan from Saudi Arabia's Public Investment Fund.

The filing reveals liabilities between $500 million and $1 billion and assets ranging from $100 million to $500 million. The league plans a player-first ownership model with support from BC Partners Advisors and other potential investors.

The Public Investment Fund, having invested over $5 billion since 2022, plans to cut funding by 2026, leading LIV to pursue a new strategic direction, ensuring business continuity until a hopeful exit from bankruptcy by early 2027.