LIV Golf has issued its first official statement after filing for Chapter 11 bankruptcy, talking on the controversial league and its financial situation that has affected most of the top golf players in the league.
The league formally entered a court-supervised restructuring process in New Jersey on Tuesday, September 8, as it attempts to reorganize its finances and secure a path into the 2027 season.
Rather than describing the filing as the end of LIV Golf, CEO Scott O’Neil presented it as the beginning of a new chapter.
“This process gives us the structure and time to pursue a landmark transaction and begin the next chapter of LIV Golf,” O’Neil said, emphasizing a future built around fans, players and a new ownership model.
Under the proposed restructuring, LIV Golf is expected to become majority owned by its players, giving the stars competing in the league a direct financial stake in the business. The company says discussions with players over the proposed ownership structure are already advanced.
The move comes after Saudi Arabia’s Public Investment Fund decided to stop providing its previous level of financial backing following the 2026 season. PIF has nevertheless agreed to provide approximately $49.6 million in debtor-in-possession financing, subject to court approval, to help LIV operate during the bankruptcy process.
LIV also has a restructuring agreement with BC Partners Credit, which is expected to provide financing alongside other potential investors once the league emerges from Chapter 11. LIV says it intends to complete the restructuring and begin its new era in early 2027.
The bankruptcy filing has created uncertainty for several of LIV’s biggest names, with players among the league’s creditors. Reports indicate that Jon Rahm, Bryson DeChambeau, Dustin Johnson and other golfers are owed millions of dollars.
Despite the financial turmoil, O’Neil made it clear that LIV’s leadership still believes there is a future for the league.
“We believe deeply in LIV Golf’s future,” O’Neil said.
The proposed restructuring could therefore represent the biggest transformation in LIV Golf’s short history. The league that once relied heavily on enormous outside funding could now enter 2027 with players holding a majority stake and investors demanding a more sustainable business model.
For LIV Golf, bankruptcy may have closed one chapter — but according to its leadership, the fight to build the next version of the league is only beginning.
