LIV golf owe Northern Ireland star $1 million as breakaway tour files for bankruptcy. It's believed McKibbin earned a reported $5 million (approx £4 million) upfront signing fee when he joined LIV Golf in January 2025, despite being urged by the likes of Rory McIlroy to avoid the switch. Staff reporter 12:38, 09 Sep 2026 Northern Ireland golf star Tom McKibbin has been named on a list of creditors owed vast sums of money by LIV Golf as the breakaway league officially files for bankruptcy. Article continues below 138205439166 Just over four years since LIV Golf launched, with the backing of the Saudi Arabia Public Investment Fund, the tour has declared liabilities between $500 million and $1 billion. Article continues below The bankruptcy filing was done in New Jersey, USA and listed several star names as creditors still owed millions. Article continues below Spanish star Jon Rahm, currently in Doonbeg Co Clare for the Irish Open, has the largest claim among players at $7.5 million, followed by Bryson DeChambeau ($5.7 million), Dustin Johnson ($5.5 million), Cameron Smith of Australia ($4.8 million), Tyrrell Hatton of England ($3.4 million) and Brooks Koepka ($1.7 million). The latter pair are also taking part in the Amgen Irish Open this week, though Koepka left LIV Golf earlier this year... YouTuber Rick Shiels is also owed roughly $1.4 million after their partnership agreement, while Holywood Golf Club ace Tom McKibbin is owed $973,109.89 via their Player Participation Agreement. It's believed McKibbin received a reported $5 million (approx £4 million) upfront signing fee when he joined LIV Golf in January 2025, despite being urged by the likes of Rory McIlroy to avoid the switch. But the 23-year-old has also been part of the most successful team on the LIV circuit over the past two seasons, Legion XIII. McKibbin, Jon Rahm, Tyrrell Hatton and Caleb Surratt won the Team Championship at LIV Indianapolis last month to boost their total team earnings for the season to a whopping $22,900,000. It is not crystal clear if the team earnings are split equally between the four players, but if they divvied up evenly, McKibbin has earned $10,064,551 this year, bringing his total LIV earnings to $18,953,607. Article continues below To put that into context, McKibbin's career earnings on the DP World Tour, where he primarily played before moving to LIV Golf, stand at €3,788,078 ($4,418,508). McKibbin has also continued to play events outside of LIV Golf, winning the 2025 Hong Kong Open in great style, and his world ranking has not suffered as much as those of some of his LIV compatriots. He is ranked just inside the top 140 in the OGWR at this time. As part of the filing, the Saudi PIF will be loaning $49.6 million to LIV Golf as part of Debtor-in-Possession financing. They have pumped almost $6 billion into the project over the last five years. The amounts owed according to the bankruptcy are a small portion of the jaw-dropping signing on fees that LIV agreed with players, but it's unclear if those original amounts have been honoured, or these amounts are an instalment. A host of companies have already filed lawsuits against LIV for unpaid services and breaches of contract, but the bankruptcy filing automatically halts ongoing litigation in most cases. The court has yet to make any decision on the petition for bankruptcy, with 'a player-owned LIV 2.0' believed to be in the works for 2027. Article continues below

LIV Golf files for Chapter 11 bankruptcy to restructure league. LIV Golf announced today that it has voluntarily commenced a court-supervised Chapter 11 bankruptcy proceeding in order to restructure its debts and obligations and announced a transaction with BC Partners. The announcement sets the stage for a proposed recapitalization that would result in LIV being majority owned by players. This move represents a transition for LIV Golf away from its original business model, which was up until April of 2026 funded by the Saudi Public Investment Fund (PIF), into it's self-described LIV 2.0 era. The PIF had invested more than $5 Billion into the league until it's decision to withdraw earlier this year. Chapter 11 restructuring. According to LIV, the restructuring is intended to give LIV Golf the time and framework needed to address prior financial obligations while completing the announced transaction with BC Partners. Chapter 11 bankruptcy is a court-supervised process in the United States that allows companies to address their financial obligations under supervision of the specific bankruptcy court. Chapter 11 proceedings were commenced in the U.S. Bankruptcy Court of the District of New Jersey by LIV Golf on Tuesday. LIV Golf characterized the filing as a step in transitioning away from its legacy business model to establish a more sustainable structure for the future. Discover more Access Premium News Open Trading Account Try CAD Software In a press release, LIV Golf CEO Scott O'Neil stated, "This process gives us the structure and time to pursue a landmark transaction and begin the next chapter of LIV Golf - one built around the fans, an innovative, player-first ownership model, and a part of the global golf ecosystem. We are excited about what lies ahead and yet, there is still much to accomplish in the months ahead. We believe deeply in LIV Golf's future, the opportunity in front of us, and the people who will help us realize it. We are grateful to our players, the incredible team at LIV Golf, our Board, BC Partners, and our partners all over the world standing tall with us, and we thank them for their belief in our next chapter." Restructuring agreement with BC Partners. Central to the announcement is a restructuring support agreement with BC Partners. Under the agreement, BC Partners and other potential minority investors are expected to provide exit financing and serve as a plan sponsor following LIV Golf's emergency from the Chapter 11 proceedings. The agreement allows LIV Golf, along with BC Partners and other potential minority investors to negotiate and agree upon the terms of claims and the course of the bankruptcy process, and serves as a written memorialization of those agreements. The transaction is designed to preserve LIV Golf's operations and create a structure to support long-term operation of LIV Golf. However, the transaction is not yet complete, as it remains subject to court approval. It's unclear whether the financing that will be provided by BC Partners will be structured as a loan, whether such a deal is contingent upon the other potential minority investors mentioned, and/or whether player commitment is also a contingency. Player owned model. Under the proposed transaction, LIV Golf 2.0 would become majority owned by its players. According to the press release, LIV Golf remains in advanced discussions with players about the ownership structure. LIV themselves describes the proposed ownership arrangement as potentially the first global sports league majority owned by its players. It would make LIV one of the most unusual ownership structures in professional sports. However, it's still unclear what that ownership structure would look like or how it would work. According to court filings, some of LIV Golf's biggest stars are still owned millions of dollars. Jon Rahm, Bryson DeChambeau, Dustin Johnson, and Cameron Smith are some of the players owed. It remains to be determined how existing LIV player contracts will be treated under the restructuring. LIV Golf states they intend to emerge from Chapter 11 proceedings in early 2027. Such a timeline would be contingent on the restructuring process and court approvals. The 2027 date appears to be the league's proposed plan, rather than a concrete milestone date. Discover more Choose Rewards Cards Compare Exchange Rates Of note, the PIF has agreed to provide $49.6 million in debtor-in-possession financing, which is intended to support LIV Golf as it moves through Chapter 11 proceedings. Such an agreement is still subject to court approval.

LIV Golf has filed for Chapter 11 bankruptcy protection in New Jersey and entered a restructuring support agreement with BC Partners Advisors. The proposed transaction would result in the reorganised company being majority owned by players. Saudi Arabia's Public Investment Fund has agreed to provide $49.6 million in debtor-in-possession financing to support the company during its restructuring process. LIV Golf expects to emerge from the restructuring in early 2027. The proposed ownership arrangement and emergence timeline remain subject to completion of the bankruptcy process.