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Liv Golf

All articles tagged with #liv golf

sports3 days ago•1 min saved

Jon Rahm Rejects LIV 2.0 Terms Amid Bankruptcy Restructuring

Jon Rahm has confirmed he will not participate in the restructured LIV Golf 2.0, citing unacceptable contract terms. His attorney, John Beck, stated this during a bankruptcy hearing in New Jersey, where Rahm is also the largest creditor with over $100 million owed. While Sergio Garcia has been legally released from his contract, Rahm’s separation agreement is being negotiated with a target finalization date of October 15. LIV Golf, now backed by a $300 million investment from BC Partners, aims to finalize player commitments by October 25, though Rahm’s case remains pending until November 5.

via Golf Channel|

#bankruptcy #bc-partners #golf

sports3 days ago•2 min saved

Rahm’s Rejection of LIV 2.0 Terms Triggers Mass Player Exodus Amid Bankruptcy

Jon Rahm has rejected the proposed terms for LIV Golf 2.0, signaling a mass exodus of top players from the bankrupt tour. While LIV seeks to restructure with new funding, key stars like Sergio Garcia are exiting, and others are moving to the DP World Tour.

via The Guardian|

#bankruptcy #dp-world-tour #golf

golf3 days ago

Rahm Rejects LIV 2.0 Terms as Garcia Exits Bankruptcy Case

Jon Rahm has declined to join the restructured LIV Golf 2.0, citing unacceptable contract terms, while Sergio Garcia has been legally released from his existing agreement. A New Jersey bankruptcy court hearing on October 8 granted Garcia a termination of his contract, allowing him to negotiate with other tours. Conversely, Rahm’s attorney stated he will not participate in the new league, with his contract hearing delayed until November 5. LIV Golf, backed by BC Partners, maintains confidence in securing enough players by the October 25 deadline, though legal clarity for other stars like Bryson DeChambeau remains pending.

via BBC|

#bankruptcy #bc-partners #golf

sports-business4 days ago•34 min saved

BC Partners commits $300M to restructure LIV Golf as players weigh equity stakes

BC Partners Credit has announced a $300 million investment to help LIV Golf emerge from Chapter 11 bankruptcy, aiming to launch a player-owned 'LIV 2.0' for the 2027 season. The deal, which requires court approval, offers players 52.5% equity in the new league, while the Saudi Public Investment Fund (PIF) provides a $49.6 million debtor-in-possession loan. Players have until October 25 to decide whether to join the restructured circuit, which features a scaled-back 10-event schedule.

via Fortune|

#bankruptcy #bc-partners #golf

sports8 days ago•391 min saved

Mickelson Confirms Rehab Stay Amid Golf Absence and Misconduct Allegations

Phil Mickelson’s representatives confirmed the 56-year-old golfer voluntarily entered a treatment facility earlier this year for family trauma and addiction. He has since returned home, though the duration and specific nature of the stay remain undisclosed. This revelation follows his withdrawal from major tournaments in April and May, as well as June allegations of inappropriate conduct at a Southern California club, which he denied.

via NBC News|

#addiction-recovery #golf #liv-golf

sports9 days ago

Mickelson exits treatment facility after 2026 misconduct and gambling scrutiny

Phil Mickelson has left a treatment facility after voluntarily seeking help for family trauma and addiction, according to his representatives. The 56-year-old golfer, who has not competed since March, faced allegations of inappropriate conduct with a club employee in June. While he denied the claims, his absence from the tour and recent rehab stay mark a significant departure from his public persona.

via The Guardian|

#addiction-recovery #family-trauma #golf-misconduct

sports9 days ago•1 min saved

Phil Mickelson Completes Treatment Stay for Family Trauma and Addiction

Phil Mickelson has left a treatment facility after seeking help for family trauma and addiction, according to a representative. The 56-year-old six-time major champion has been absent from competitive golf since March, citing a personal health matter. While the specific nature of the addiction was not disclosed, Mickelson previously admitted to gambling struggles in 2023. His absence coincides with recent allegations of misconduct and LIV Golf's financial restructuring.

via Fox News|

#addiction-recovery #family-health #golf-news

sports25 days ago•2 min saved

PGA Tour Keeps LIV Re-entry Hopes on Hold Amid DP World Tour Talks

The PGA Tour has not announced a return path for LIV Golf defectors, saying membership rules and meritocracy will govern who can rejoin as talks with the DP World Tour continue on how many players will earn PGA Tour cards under a 2028 promotion/relegation reform; the number of cards could be reduced, and a Challenger Series pathway is under discussion, with Rory McIlroy noting that moving to the Challenger Series would be a lateral step rather than an ascent.

via BBC|

#dp-world-tour #golf #liv-golf

sports25 days ago•5 min saved

PGA Tour Sets 2028 Championship Series Path: promotion, relegation, and key exemptions

The PGA Tour will launch a two-tier 2028 Championship Series with 90 guaranteed spots from a 120-player field and relegation to a Challenger Series for the rest. The top 20 finishers in the Challenger Series, along with anyone who wins two Challenger events, earn promotion to the Championship Series; the No.1 PGA Tour University finisher gets an immediate Championship Series slot, while Nos.2-5 go to the Challenger Series. A Last Chance fall series will decide three more slots. Exemptions exist for top earners and major/Players winners, including a two-year boost after a win, and a one-time stay-in exemption for top-50 all-time money list members if relegated. The 2027 transition details map out how 2027 results secure 2028-2029 entries, with further consideration for LIV/DP World Tour access still unresolved.

via The New York Times|

#championship-series #golf #liv-golf

business28 days ago•4 min saved

Mickelson’s 0.23% LIV stake surfaces as bankruptcy unfolds

Sportico reports Phil Mickelson owned a 0.23% stake in LIV Golf when it filed for Chapter 11, a detail surfaced in LIV’s 128-page bankruptcy filing showing a ownership split led by the Public Investment Fund (99%+ through PIF and affiliates) with 0.23% attributed to Mickelson as a current player. The revelation adds to LIV’s ongoing restructuring under BC Partners and raises questions about the fate of that stake and Mickelson’s future in golf after limited play in 2026, despite his past prominent role and joining bonus.

via Golfmagic|

#bankruptcy #business #liv-golf

business29 days ago•14 min saved

Mickelson Revealed as LIV Golf's Hidden Shareholder in Bankruptcy Filing

LIV Golf’s Chapter 11 filing lists a 0.23% stake held by a 'current player'—identified by sources as Phil Mickelson—making him LIV’s unnamed shareholder, while ownership sits at about 98.48% for the Public Investment Fund and 1.05% for Performance54; the document outlines a proposed restructuring that would shift roughly 52.5% of ownership to players and details how pre-bankruptcy agreements would be handled as LIV pursues a reimagined tour.

via Sportico.com|

#bankruptcy #business #chapter-11

business1 month ago•4 min saved

LIV Golf bets on a player-owned 2.0 to rescue its finances

LIV Golf has filed for Chapter 11 in New Jersey and is racing to sign players for a new LIV 2.0 as part of a restructuring backed by a $300 million BC Partners-led investment and a $50 million loan from Saudi Arabia’s Public Investment Fund. Under the term sheet, players would exchange their current contract claims for equity in LIV 2.0 and could receive signing bonuses and NIL endorsements, with the league majority-owned by players. The plan hinges on court-approved milestones to avoid a wind-down; LIV disclosed about $15 million cash at filing after burning through roughly $5 billion from PIF and $500 million in a prior loan. In 2025 LIV revenue was about $200 million, with little contribution from TV deals, while sponsorships dominated. A committee of unsecured creditors is anticipated to be formed, and Judge Kaplan noted the spectacle of such a committee formation during proceedings.

via Financial Times|

#bankruptcy #bc-partners #business

sports1 month ago•7 min saved

LIV’s Bankruptcy Sparks Uncertain Path Back to Golf’s Main Tours

LIV Golf has filed for US bankruptcy protection to restructure for a “new era,” with about $45m in debts to current and former players. LIV 2.0 plans feature smaller prize funds and larger fields, but success hinges on funding and luring stars back. The DP World Tour reports high interest from LIV players and is exploring terms to accommodate departures, provided players are free of third-party restrictions and compliant with membership rules. The PGA Tour has shown little appetite for a returning member program, leaving a murky route back to the main tours for many LIV golfers.

via BBC|

#bankruptcy-protection #dp-world-tour #golf

business1 month ago•1 min saved

LIV Golf pivots to Chapter 11 as players head toward a rebuilt, player-owned league

LIV Golf filed for Chapter 11 in New Jersey, listing Jon Rahm as the largest unsecured creditor at about $7.5 million and Bryson DeChambeau at about $5.8 million, with Dustin Johnson, Cameron Smith and Adrian Meronk among the top creditors; the filing marks the end of LIV's first incarnation and the league is eyeing a restructured, player-owned model funded during the bankruptcy by the Saudi Public Investment Fund (about $49.6 million) subject to court approval.

via The Washington Post|

#bankruptcy #bryson-dechambeau #business

sports1 month ago•3 min saved

LIV Golf enters Chapter 11 with $500m–$1bn debt, eyes a player-owned reboot

LIV Golf has filed for Chapter 11 with liabilities of $500m–$1bn, aiming to reorganize into a majority player-owned league backed by BC Partners and to emerge in early 2027, with a $50m loan from Saudi Arabia’s Public Investment Fund to support the process; nine golfers are listed as unsecured creditors.

via Financial Times|

#bankruptcy #bc-partners #chapter-11