American golfer, LIV veteran and 6-time major winner
LIV Golf has filed for Chapter 11 bankruptcy in New Jersey and has agreed a restructuring with BC Partners while Saudi Arabia's Public Investment Fund has provided $49.6m in debtor-in-possession financing. The company has listed $500m–$1bn in liabilities, plans a player-majority ownership model and aims to return in 2027.
The United States, led by Jim Furyk, are preparing to challenge Europe at Adare Manor in the centenary Ryder Cup. Furyk plans to revamp preparation, emphasising acclimatisation and deeper bench strength ahead of the European challenge led by Luke Donald. Both captains expect a raucous but respectful Irish crowd as the event returns to Europe.
LIV Golf has told a New Jersey bankruptcy court it will shift from restructuring to full liquidation after BC Partners Credit withdrew a proposed $300m financing. The Saudi-backed league has lost star players and funding, filed for Chapter 11 in September, and will sell assets to pay creditors starting immediately.