ESPN and other news outlets are reporting that BC Partners is pulling out of its deal to invest $300 million into the LIV Golf League. See here. Consequently, the New York Times reports that, in a New Jersey bankruptcy court hearing today that lasted 13 minutes, LIV Golf’s lawyers announced formal plans to pivot from restructuring to full liquidation. LIV’s remaining assets, including real estate and trademarks, will be sold off as the company gradually shutters. The Times concludes that, consequently, the focus is no longer on how to rebuild LIV Golf into a new, fiscally conservative business. The bankruptcy process will now prioritize paying creditors from the tour’s assets, with the official wind-down progress set to begin by Monday, lawyers said in today's hearing.
As the website JD Supra reports, 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.
Now, the erstwhile LIV golfers, creditors or not, will likely wander in the golf wilderness, otherwise known as the DP World Golf Tour, for the foreseeable future. Or until they are invited back into the PGA Tour. (Don’t hold your breath if your name isn’t Jon Rahm or, heaven forfend, Bryson DeChambeau.) Dustin Johnson, we hardly knew ye.
Copyright R.E. Kelly 2012-2026
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