LIV Golf Holdings Ltd. and numerous related entities filed for Chapter 11 bankruptcy protection on September 8, 2026, in the U.S. Bankruptcy Court for the District of New Jersey. The lead case, filed under LIV Golf New Jersey LLC, has been assigned to Judge Michael B. Kaplan in Trenton, with the related debtor entities moving for joint administration under that case number. The Debtors are represented by Gibson Dunn & Crutcher LLP of New York as lead restructuring counsel, with Cole Schotz P.C. serving as local New Jersey counsel.

What makes this filing especially notable is that many of the largest creditors aren’t banks or vendors, they are some of golf’s biggest names, owed money under their Player Participation Agreements. Of the 30 largest unsecured creditors listed in the petition, roughly half are professional golfers or golfer-affiliated entities. Topping the list is two-time major champion Jon Rahm, owed approximately $7.47 million. Close behind is Bryson DeChambeau, owed roughly $5.77 million. Also among the largest claims: Dustin Johnson ($5.49 million), Cameron Smith ($4.84 million), Tyrrell Hatton ($3.37 million), and Brooks Koepka ($1.68 million). The ten identified players’ combined claims exceed $32.9 million, reflecting that LIV’s roster-signing strategy left significant deferred compensation exposure on the balance sheet.

According to the first-day declaration of Chief Restructuring Officer David Orlofsky, the filing was driven by Saudi Arabia’s Public Investment Fund (PIF) announcing in April 2026 that it would stop funding LIV Golf’s losses beyond the 2026 season, after already investing roughly $5 billion in equity since the league’s 2021 launch. To keep the business running, the Debtors secured a binding Restructuring Support Agreement with BC Partners Advisors L.P., which has agreed to anchor a $300 million investment in a reorganized “LIV 2.0,” alongside a $49.6 million debtor-in-debtor in possession loan from PIF to fund the case.

Beyond the players, the creditor list features a mix of media, trade, and litigation claimants. IMG Media ($3.2 million, trade vendor), MDLBEAST Company ($1.65 million), and GSE Worldwide ($1.29 million) reflect LIV’s media and talent-representation obligations.

What’s Next for LIV Golf?

With first day motions pending before Judge Kaplan and exclusivity period running to early January 2027, the coming months will determine whether LIV Golf reorganizes around a viable business plan or heads toward a sale or liquidation of assets. Given the prominence of player claims among the top creditors, negotiations over Player Participation Agreement obligations are likely to be a central issue as the case proceeds.