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LIV Golf officially files for bankruptcy protection; Rahm, Bryson owed millions
LIV Golf and its related entities voluntarily filed for Chapter 11 protection in the U.S. In a statement, LIV Golf said that it has entered a...
Key points
- LIV Golf and its related entities voluntarily filed for Chapter 11 protection in the U.S.
- In a statement, LIV Golf said that it has entered a restructuring support agreement with BC Partners Advisors and that it had voluntarily entered a court-supervised restructuring process under Chapter 11.
- "Now it is time to enter the next phase of LIV Golf," CEO Scott O'Neil said in a letter to fans.
- Put simply, this process is designed to build a stronger and more sustainable future for LIV Golf." In a news release, LIV Golf said it is seeking recognition of its U.S.
What happened
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LIV Golf and its related entities voluntarily filed for Chapter 11 protection in the U.S. In a statement, LIV Golf said that it has entered a restructuring support agreement with BC Partners Advisors and that it had voluntarily entered a court-supervised restructuring process under Chapter 11. "Now it is time to enter the next phase of LIV Golf," CEO Scott O'Neil said in a letter to fans. Put simply, this process is designed to build a stronger and more sustainable future for LIV Golf." In a news release, LIV Golf said it is seeking recognition of its U.S. The PIF has invested more than $5 billion into LIV Golf since its first tournament in June 2022 and was reportedly spending $100 million per month this year. "The next phase of LIV Golf will be built around a sustainable business model and deeper alignment between players and the League, with team golf at its core," O'Neil said in the letter.