LIV Golf Files for Bankruptcy With Rahm and DeChambeau Owed Millions

Caption: Paul Casey competes at LIV Golf in Bedminster, New Jersey, in 2022. Credit: JazzyJoeyD / Wikimedia Commons, CC BY-SA 4.0.

LIV Golf is no longer fighting only for tournament relevance. The league filed for Chapter 11 bankruptcy protection, and some of its biggest stars - including Jon Rahm and Bryson DeChambeau - now appear among the creditors owed millions of dollars.

The Filing Puts the Player Deals in Public View

Associated Press reported that LIV listed assets between $100 million and $500 million and liabilities between $500 million and $1 billion. Rahm is listed as being owed roughly $7.5 million, with DeChambeau also among the largest player creditors.

Those numbers are small compared with the enormous contract values reported when the players joined LIV, but the filing turns private compensation arrangements into part of a court-supervised restructuring.

The Existing Contracts May Not Survive

LIV is asking the bankruptcy court for authority to reject existing player contracts as part of the restructuring. Financial Times and golf-industry reporting say the league is trying to move players into new agreements tied to a proposed 2027 relaunch.

That creates a direct career consequence. Players who joined LIV under multiyear guarantees may have to choose between new terms, equity in a reorganized league or opportunities elsewhere.

The Clock Is Running on LIV 2.0

The proposed rescue depends on new financing and on enough players agreeing to the new structure. Financial Times reported that BC Partners is involved in a potential $300 million rescue and that player commitments are needed on a compressed timetable.

LIV has also received debtor-in-possession financing to keep operating through the bankruptcy process. Chapter 11 is designed to allow restructuring rather than immediate shutdown, so bankruptcy does not mean the league disappears today.

This Is the Consequence Story Game Changers Needs

LIV has generated years of stories about prize money, defections and rivalry with the PGA Tour. This development is different because the consequence is official: a bankruptcy case now governs the league’s finances and contract decisions.

For Rahm, DeChambeau and other players, the future is no longer only about which tour they prefer. Their contracts, unpaid claims and potential ownership in a new league are now part of a court process.

References: LIV Golf files for bankruptcy protection as it tries to survive in a smaller version | LIV races to re-sign golfers to clinch $300mn bankruptcy rescue | LIV Golf files for bankruptcy, with Bryson DeChambeau and Jon Rahm owed millions