{"id":97059,"date":"2026-09-08T22:38:00","date_gmt":"2026-09-08T22:38:00","guid":{"rendered":"https:\/\/gulftimes.ae\/?p=97059"},"modified":"2026-09-08T22:38:00","modified_gmt":"2026-09-08T22:38:00","slug":"arab-news-liv-golf-files-for-chapter-11-bankruptcy-in-new-jersey","status":"publish","type":"post","link":"https:\/\/gulftimes.ae\/?p=97059","title":{"rendered":"Arab News | LIV Golf files for Chapter 11 bankruptcy in New Jersey"},"content":{"rendered":"<p> <br \/>\n<br \/><\/p>\n<div>\n<p>Professional men\u2019s golf league LIV Golf filed for Chapter 11 bankruptcy in New Jersey on Tuesday, saying it intended to restructure its business with a $49.6 million bankruptcy loan provided by the Public Investment Fund of Saudi Arabia.<\/p>\n<p>The company has between $500 million and $1 \u200cbillion in liabilities, and \u200cbetween $100 million and $500 million \u200cin assets, according to its Chapter 11 petition.<\/p>\n<p>LIV Golf said the bankruptcy will allow it to go forward with the support of a new backer, BC Partners Advisors L.P. LIV has been preparing for its next iteration ever since \u200cthe PIF said \u200cin April that further investment in the \u200crebel circuit no longer aligned with \u200cits strategy and that it would cut funding at the close of the 2026 season. PIF owns 100% of LIV Golf\u2019s \u200cequity, according to its bankruptcy petition. The PIF has invested more than $5 billion in LIV Golf since its launch in 2022 and the breakaway circuit used massive signing bonuses to poach big-name players from the PGA Tour like Bryson DeChambeau, Jon Rahm and Dustin Johnson.<\/p>\n<p>Rahm, DeChambeau and Johnson are the company\u2019s top three unsecured creditors, according to the petition. 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href=\"https:\/\/www.arabnews.com\/golf\/liv-golf-files-for-chapter-11-bankruptcy-in-new-jersey-3000990\">Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Professional men\u2019s golf league LIV Golf filed for Chapter 11 bankruptcy in New Jersey on Tuesday,&hellip;<\/p>\n","protected":false},"author":1,"featured_media":97060,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"content-type":"","footnotes":""},"categories":[9],"tags":[],"class_list":["post-97059","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-lifestyle"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v21.0 (Yoast SEO v27.4) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Arab News | LIV Golf files for Chapter 11 bankruptcy in New Jersey - Gulf Times | News by the minute<\/title>\n<meta name=\"description\" content=\"Gulf Times: Latest news across 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