LIV Golf Files for Chapter 11 Bankruptcy Protection
The Saudi-backed golf league has sought bankruptcy protection, with a restructuring deal expected to hand majority ownership to its players.
LIV Golf, the Saudi-backed upstart golf league that shook the professional sports world when it launched as a rival to the PGA Tour, has filed for Chapter 11 bankruptcy protection, according to a report from US Top News and Analysis. The filing marks a dramatic reversal for a venture that once lured some of the sport's biggest names with massive guaranteed contracts.
Under the terms of the proposed bankruptcy deal, LIV Golf's players are expected to emerge as majority owners of the restructured league. The arrangement would represent an unusual ownership model in professional golf, effectively transforming tour members from contracted talent into controlling stakeholders.
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The Chapter 11 process allows a company to continue operating while it reorganizes its debts under court supervision, rather than liquidating outright. For LIV Golf, the path forward appears contingent on creditors and the courts approving the player-ownership restructuring plan — an outcome that would fundamentally reshape how the league is governed and financed.
LIV Golf launched with substantial backing from Saudi Arabia's Public Investment Fund and immediately triggered controversy by signing marquee players away from the PGA Tour. Its bankruptcy filing raises serious questions about the long-term viability of the league's business model and what the move means for the broader landscape of professional golf, including any pending discussions about a merger or partnership with the PGA Tour.
Continue reading at US Top News and Analysis.
