Phil Mickelson owns a piece of the golf league that is now on life support. Court records show the six-time major champion held a 0.23% stake in LIV Golf when the tour filed for Chapter 11 bankruptcy protection. This tiny slice of equity could vanish completely as the league attempts to restructure its massive debts. The move signals a grim reality for a player who once thought he was buying into a permanent empire.
The Numbers Behind the Collapse
The financial picture is bleak. Sportico reports the league held assets of $100 million to $500 million while facing liabilities between $500 million and $1 billion. That gap is too wide to bridge…
Read the full article at SPORTS.YAHOO.COM
