LIV Golf has filed for bankruptcy protection with at least $45m (£33m) owed to players, who will now have the option to leave.
A Chapter 11 petition, which LIV says is to “preserve the company’s business” as it attempts to restructure after Saudi Arabia withdrew its multibillion-dollar funding, was filed in the United States on Tuesday.
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The breakaway league says it has found a new investor in BC Partners, following the decision in April by Saudi Arabia’s Public Investment Fund (PIF) to pull its funding.
Documents in the petition outline money owed to LIV Golf’s creditors with the 30 largest unsecured claims. Two-time major winner…
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