As LIV Golf files for Chapter 11, reports show Phil Mickelson among minority stakeholders, raising fresh uncertainty over his role and the tour’s next chapter.
As part of the proposed bankruptcy deal, the upstart golf venture is expected to be majority owned by its players.
Its planned 2027 return remains uncertain as stars weigh their options.
It has yet to be confirmed what will happen to the six-time major champion’s stake as the tour goes through the process of restructuring.
Mit einem milliardenschweren Financier im Hintergrund wurde 2022 der Gegenspieler zur im Golf etablierten PGA-Tour ins Leben gerufen. Doch nun muss die LIV-Serie einen weiteren Rückschlag hinnehmen.
Alongside the bankruptcy filing, LIV announced a proposed restructuring plan that could see its players take majority ownership of the reorganized league.
CEO Scott O’Neil says ‘process is designed to build a stronger and more sustainable future for LIV Golf’
Saudi investors stopped backing LIV Golf this year although top players like Jon Rahm, Bryson DeChambeau and Cam Smith are still involved
Mit einem milliardenschweren Financier im Hintergrund wurde 2022 der Gegenspieler zur im Golf etablierten PGA-Tour ins Leben gerufen. Doch nun muss die LIV-Serie einen weiteren…
Player contracts are a significant portion of LIV’s liabilities, and bankruptcy allows the tour to reject those it sees as unfavourable.
More legal disputes could be on the horizon to sort out the full spectrum of LIV’s debts and who will reap what.