LIV Golf files for bankruptcy and cancels player contracts
LIV Golf has filed for Chapter 11 bankruptcy protection and cancelled all existing player contracts. The move followed Saudi Arabia's Public Investment Fund withdrawing its support after investing five billion US dollars over four years. The league aims to relaunch in 2027 with new funding from BC Partners Capital. Jon Rahm has released claims against the bankruptcy estate, reported at up to 150 million US dollars. Five players, including Sergio Garcia and Rory McIlroy's rival Tyrrell Hatton, have said their futures lie elsewhere. DP World Tour chief executive Guy Kinnings said LIV's aim had been to destroy the tour, and McIlroy backed that view.
Key facts
- LIV Golf has secured a proposed financing commitment of up to 300 million US dollars from BC Partners Credit.
- Players were told cancelled contracts would be re-signed under new terms for the 2027 season.
- McIlroy said LIV's investment created the International Series on the Asian Tour, which was then left without support.
- Saudi Arabia's fund will end its backing of LIV Golf after the 2026 season.
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Why it matters
The collapse of a major funded rival league could reshape professional men's golf and the status of players who left for LIV.
What changed
First published from The Independent, Yahoo Sports, Sky Sports, The Guardian and CNA