LIV Golf Files Chapter 11 Plan to Wind Down Operations

It would move remaining assets into a wind‑down trust overseen by the league’s largest creditor and seek court approval to begin liquidation in early January.

Overview

LIV filed the Chapter 11 plan on Tuesday with the New Jersey bankruptcy court and set a Nov. 24 hearing on its disclosure statement and a Jan. 7 confirmation hearing that could start liquidation.
The plan calls for transferring LIV’s assets and liabilities to a wind‑down trust run by a trustee selected by the Public Investment Fund, which is the league’s largest secured creditor.
The PIF supplied most funding for LIV, including a $495 million secured loan to finish the 2026 season and $49.6 million in debtor‑in‑possession financing for the bankruptcy case.
A proposed $300 million rescue led by BC Partners collapsed after too few marquee players committed to a smaller relaunch, leaving players, vendors, and contractors exposed.
The filing shows heavy operational fallout: roughly 289 layoffs, 22 furloughs, $15.6 million in executive retention payments, and more than $100 million in unsecured claims with only a $2 million recovery pool now proposed.