Court documents reveal that LIV Golf estimates its assets between $100 million and $500 million (£74 million–£370 million), while liabilities range from $500 million to $1 billion (£370 million–£739 million). The proposed restructuring, dubbed LIV 2.0, is intended to be built around a sustainable business model
.
Player Retention Emerges as Critical Hurdle
It remains unclear how many of LIV’s current players will commit to the new entity. Although LIV executives are optimistic about transitioning to a new era
early next year, both the bankruptcy filing and the first U.S. court hearing on Wednesday underscored that player retention is the pivotal issue, with tight deadlines and stringent criteria.
Key Milestones and the 35-Day Deadline
The bankruptcy paperwork outlines several key milestones
. Most immediately, within 35 days of the petition, a requisite number of players
must have entered into the restructuring agreement. The documents define this threshold precisely:
Requisite players’ means players holding eligible player claims… that equal or exceed (a) 2/3 in amount and (b) 1/2 in number of such eligible player claims held by all players.
In practical terms, at least half of all players with claims against LIV Golf need to sign on to LIV 2.0 by mid-October. Because the largest claims belong to the sport’s biggest names, securing commitments from several top players is essential.
Top Creditors Headlined by Jon Rahm
Jon Rahm leads the list of unsecured creditors, owed $7.5 million (£5.5 million) for the third quarter of this year. The next four largest claimants are Bryson DeChambeau, Dustin Johnson, Cameron Smith, and Adrian Meronk.
