LIV Golf is attempting to cancel players’ existing contracts. Meanwhile, the Saudi PIF spent $495 million funding the remainder of the league’s 2026 season after announcing its impending exit in April. And LIV’s proposed new investor, BC Partners, could buy an expansion team for $1.
Those details are among the key revelations in the 128-page document submitted by LIV on Wednesday after the league filed for Chapter 11 bankruptcy in New Jersey on Tuesday.
LIV has just 41 full-time employees remaining after mass layoffs and has $15 million in cash on hand, according to the filing, but is now armed with $49.6 million in debtor-in-possession (DIP) financing from the PIF to operate in the interim. LIV is targeting a January 2027 emergence from the bankruptcy process with a goal to conduct a sixth season and first under its new “2.0” structure next year.
In the meantime, detailed bankruptcy filings reveal key information about LIV’s past operations that had not been previously available to the public, as well as new information about the league’s future plans.
Player Contracts Voided?
