Overview
- LIV filed for Chapter 11 in New Jersey on Tuesday, Sept. 8, 2026, initiating a court-supervised reorganization that lets the company keep operating while it negotiates with creditors.
- The Public Investment Fund provided a $49.6 million debtor-in-possession loan to cover short-term needs during the bankruptcy process.
- Bankruptcy schedules list top names as the largest unsecured creditors, with Jon Rahm, Bryson DeChambeau and Dustin Johnson among those owed millions, and the filing likely allows many player contracts to be voided so players can depart.
- LIV has reached a restructuring agreement in principle with BC Partners that would shrink the tour, give players majority ownership in a proposed 'LIV 2.0,' and cut schedules and prize money compared with earlier plans.
- The filing shows estimated assets of $100 million–$500 million, liabilities of $500 million–$1 billion, widespread unpaid vendor claims and staff layoffs, raising legal and competitive questions for the PGA Tour and DP World Tour over player returns and creditor recoveries.