Overview
LIV Golf Incorporated and its affiliates announced on 9 September 2026 that they have entered into a Restructuring Support Agreement with BC Partners Credit and have filed for Chapter 11 bankruptcy protection in the United States Bankruptcy Court for the District of New Jersey.
Restructuring Plan
The court‑supervised restructuring is intended to recapitalize the league and preserve it as a going concern. Under the proposed plan, the reorganized entity will be majority‑owned by the players, creating a player‑first ownership model that aligns their interests with the long‑term success of the league.
Financing
The Public Investment Fund of Saudi Arabia has committed $49.6 million of debtor‑in‑possession (DIP) financing, subject to court approval. BC Partners Credit, together with other prospective minority investors, is expected to provide exit financing and act as the plan sponsor to fund the reorganized company after court approval.
Governance Statements
CEO Scott O’Neil said the process gives the league structure and time to pursue a landmark transaction and begin the next chapter built around fans and a player‑first model. Gene Davis, Chairman of the Board’s Special Committee, stated that the board reviewed all options and believes the actions represent the most responsible path forward for the league and its stakeholders.
Timeline and Jurisdiction
The transaction remains subject to approval by the bankruptcy court and relevant stakeholders. LIV Golf intends to emerge from Chapter 11 and launch the new player‑first era in 2027. The company is also seeking recognition of the U.S. Chapter 11 proceedings in England and Wales to protect the value of its international assets and operations.