LIV Golf Bankruptcy: Rahm, DeChambeau And LIV 2.0 Plans
LIV Golf’s Chapter 11 filing reveals billions in past funding, millions owed to stars, and a plan for LIV 2.0 that could reshape players, ownership, contracts and pro golf’s future.
LIV Golf has entered Chapter 11 bankruptcy, putting Jon Rahm, Bryson DeChambeau and other stars at the center of pro golf's latest shake-up. The New Jersey filing shows liabilities of $500 million to $1 billion, but the league says it plans to rebuild. The September 8 filing lists unpaid claims, including $7.47 million for Rahm, $5.77 million for DeChambeau and $5.49 million for Dustin Johnson. Reuters reported that LIV is turning to BC Partners, while Saudi Arabia's PIF has agreed to provide $49.6 million in financing.
LIV Golf Bankruptcy Reveals Millions In Unpaid Claims
Those figures do not show the full value of the players' contracts. They are unsecured claims listed in the bankruptcy case. Golf.com reported that Rick Shiels is owed about $1.4 million, while Louisiana is listed at $1.22 million. LIV's bills go beyond stars.
The proposed answer is a new version of the league, known as LIV 2.0. CEO Scott O'Neil wants players to hold a majority stake, with BC Partners supporting the planned return. That would change ownership and could reshape how players enter events, compete and earn.
The next version of LIV Golf is set to look different from the league that launched in 2022. O'Neil said, “Now it is time to enter the next phase of LIV Golf.” He has outlined 75-player fields, a 54-hole cut and Monday qualifiers.
LIV Golf 2.0 Plans Put Player Contracts In Focus
LIV also faces a major decision over its current player deals. Axios reported on September 9 that the league asked the bankruptcy judge for permission to reject contracts involving Rahm, DeChambeau and Phil Mickelson. Court approval is still needed, so players' next moves remain unsettled.
Rahm's situation may be the clearest test. He has said he is willing to fulfill his LIV 1.0 contract, while also saying, “time will tell” about the future. Golf.com reported that Rahm left the LIV player group chat before the filing, adding another question.
LIV now has to turn its court-supervised rescue into a working golf league. The target is an early 2027 return with new financing, larger fields, cuts and player-led ownership. The outcome will depend on court approval, the BC Partners deal and which stars stay.