Fore! LIV Golf leaves its biggest stars stranded in the rough as it files for bankruptcy

LIV Golf filed for Chapter 11 bankruptcy protection in New Jersey on Tuesday as it seeks to restructure its finances and keep operating while it works toward a return in 2027, according to Golf Digest. The league said the court-supervised process is meant to handle past obligations, preserve its international business and set up a new ownership model that could leave players in control.

The filing shows that several of LIV’s biggest stars are among its largest unsecured creditors. Jon Rahm is owed $7.5 million, Bryson DeChambeau $5.7 million, Dustin Johnson $5.5 million, Cameron Smith $4.8 million, Tyrrell Hatton $3.4 million and Brooks Koepka $1.7 million, according to court records, per ESPN.

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What comes next for LIV Golf

LIV said it has entered a restructuring support agreement with BC Partners Advisors and expects BC Partners and other investors to help finance the league after it exits Chapter 11, ESPN confirmed. According to the report, Saudi Arabia’s Public Investment Fund, which had backed LIV since its launch, will provide $49.6 million in debtor-in-possession financing to keep the circuit running during the proceedings, subject to court approval.

In a letter to fans, CEO Scott O'Neil said, “Now it is time to enter the next phase of LIV Golf,” per ESPN. He added that the league’s “next phase” will feature a “sustainable business model” with team golf at its core and that players will be able to share in the value they help create.

LIV’s plans include events on five continents, including North America, Australia, South Africa, Mexico, England and Hong Kong. The league also said it wants 75-player fields, a cut, Monday qualifying and more national-team style competition.

The bankruptcy comes after months of financial strain, staff cuts and a shortened 2026 season. According to Golf Digest, LIV ended its season early in Indianapolis after canceling its planned finale in Michigan, while also cutting an event in New Orleans and reducing the Indianapolis purse.

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Saudi Arabia’s Public Investment Fund stopped funding the league in April after investing more than $5 billion since LIV’s first tournament in 2022, ESPN reported. The league also faces unpaid vendor claims and other legal disputes.

Golf Digest reported that LIV expects the restructuring could release players from existing contracts and open the door to new opportunities elsewhere. That could reshape the breakaway circuit as it tries to recover from a costly expansion and build a smaller, player-centered business. The next step now depends on court approval and new financing.