LIV Golf and its affiliated entities have sought Chapter 11 bankruptcy protection in the U.S. Bankruptcy Court of New Jersey, according to filings submitted on Tuesday.
Court records reveal the Saudi-backed golf league owes substantial sums to its highest-profile players. Jon Rahm stands as the organization's largest creditor, with $7.5 million in outstanding payments. Bryson DeChambeau ranks as the second-largest creditor, owed $5.7 million by the league.
The voluntary bankruptcy filing marks a significant development for the professional golf circuit, which launched in 2022 as a rival to the established PGA Tour. The league attracted prominent players with lucrative signing bonuses and guaranteed prize money, positioning itself as a disruptive force in professional golf.
Chapter 11 bankruptcy protection allows organizations to continue operations while restructuring their debts under court supervision. The filing provides LIV Golf with breathing room to reorganize its financial obligations while maintaining its competitive schedule.
The substantial amounts owed to Rahm and DeChambeau underscore the financial commitments the league made to secure top-tier talent. Both players defected from the PGA Tour to join LIV Golf, decisions that generated significant controversy within the professional golf community.
The bankruptcy filing in New Jersey federal court will now subject LIV Golf's financial structure to judicial oversight as the organization works to resolve its creditor obligations and chart a path forward.
