LIV Golf is to be liquidated after spending $5 billion, leaving behind tax refunds and mementos.
Bankruptcy and the End of LIV Golf 2.0
The rebel golf league officially came to an end in a New Jersey bankruptcy court when lawyers informed the court that LIV Golf 2.0 would not go forward. Five years after its launch, the Saudi-backed venture is being wound down for liquidation by early 2027.
Behind the collapse were staggering operational losses. Shortly after taking the job, LIV Golf CEO Scott O’Neil traveled to Saudi Arabia during his first month to meet with Yasir Al-Rumayyan—the chairman of LIV and governor of Saudi Arabia’s Public Investment Fund—with the goal of reviewing the challenges confronting their circuit.
The initiative began as a pet project in 2021 by the absolute monarchy sitting on the world’s largest oil reserve in the Arabian Peninsula, ultimately spending $5 billion in a venture that reshaped professional golf through accusations of sportswashing and nine-figure contracts for players like Dustin Johnson, Bryson DeChambeau, and Brooks Koepka, fueled by a frontman in Phil Mickelson who was aggrieved over what he believed to be the PGA Tour’s obnoxious greed.
As operations wind down, little physical infrastructure remains. Leased offices in Manhattan, London, and West Palm Beach are gone, leaving only a mailbox in Claymont, Delaware, situated between a Dollar Tree and a barbecue stand.
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Unpaid Invoices and Outstanding Debts
The league’s financial exit left numerous vendors and contractors unpaid. Fresh Tape Media filed a lawsuit seeking payment for 10 open invoices worth $1.18 million, after communications from LIV finance employees repeatedly pushed back payment proposal reviews.
Court records showed smaller creditors were also left waiting months for payments ranging from $40,000 to $100,000, while at least one person making five figures a year went months owed $40,000, and contractors were eventually made whole before LIV filed for bankruptcy on Sept. 8 using a similar stall tactic.
Bryson DeChambeau and Jon Rahm Face Uncertain Futures
With LIV defunct, its biggest stars are planning their next moves under strict circuit ultimatums. Addressing the public via social media on Sunday, Bryson DeChambeau shared his perspectives without expressing regret for accepting Saudi financial backing to join LIV Golf, nor did he provide clarity regarding his upcoming plans, marking his initial public remarks following the bankruptcy court’s endorsement of the league’s abandoned Chapter 11 reorganization strategy.
I’m not going to rewrite the last four years. I made a decision I believed in, and I’m grateful for what came with it: playing in front of fans new and old around the world who rarely got to see the best players at home.
Bryson DeChambeau, via ESPN
Whatever comes next, I’ll approach it with humility and respect for the people who carried this game long before me.
Bryson DeChambeau, via ESPN
Arnold Palmer said no player is bigger than the game, and I want to acknowledge that along the way, I’ve said some things that didn’t help.
Bryson DeChambeau, via ESPN
Earlier coverage: Bryson DeChambeau Confirms LIV Golf Exit as League Files for Bankruptcy
