LIV Golf has filed for bankruptcy protection in the United States, acknowledging it currently owes players $45 million but saying it still plans to begin a new league early next year.
The company's filing signals a move to seek legal shelter while it addresses outstanding financial obligations. The filing document lists $45 million in amounts owed to players, making them among the creditors in the proceedings.
Bankruptcy protection in the US generally pauses creditor actions and gives a company time to reorganise its finances or work toward a resolution under court supervision. LIV Golf stated it intends to proceed with plans to launch the new league in the early part of next year, although it did not provide a detailed timeline for how the bankruptcy process would be reconciled with those operational plans.
It remains unclear how long the bankruptcy process will take, what arrangements may be reached with players and other creditors, or how the filing will affect contractual and scheduling commitments. Further updates are expected as the company and the court proceed through the next stages of the case.