LIV Golf, the rebel golf league, has officially filed for Chapter 11 bankruptcy protection in the United States, an equivalent to voluntary administration in Australia. This significant development occurred months after Saudi Arabia’s sovereign wealth fund, the Public Investment Fund (PIF), withdrew its primary funding. Bankruptcy documents reveal several prominent golfers, including Jon Rahm, owed over $US7.4 million, Bryson DeChambeau, about $US5.7 million, and Dustin Johnson, $US5.4 million, are now among the creditors. While the PIF will reportedly provide almost $US50 million in interim financing, exploring alternative models, the league’s long-term survival without substantial Saudi backing remains highly uncertain. This…
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