LIV Golf files for Chapter 11 bankruptcy protection

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Jon Rahm is owed $7.47 million by LIV Golf, more than any other creditor listed in the bankruptcy filing the Saudi-funded tour submitted Tuesday, Sept. 8 in New Jersey.

The two-time major champion tops a list of 14 players who make up nearly half of LIV Golf's 30 largest unsecured debts. LIV Golf New Jersey LLC and roughly 50 affiliated entities filed for Chapter 11 protection in the U.S. Bankruptcy Court. Chapter 11 doesn't mean LIV is shutting down. It's the kind of bankruptcy that lets a company keep running while a court supervises it working out a plan to pay back what it owes.

LIV says it owns between $100 million and $500 million in assets and owes between $500 million and $1 billion, spread across as many as 5,000 creditors.

The 27 names on the top-30 list with a dollar figure attached are owed a combined $64.2 million. After Rahm, Bryson DeChambeau ($5.77 million), Dustin Johnson ($5.49 million), Cameron Smith ($4.84 million), Adrian Meronk ($4.44 million) and Tyrell Hatton ($3.37 million) round out the top six, all of them owed money under their player contracts with the tour.

LIV doesn't agree it owes all of that. DeChambeau's claim is flagged as contingent, meaning LIV says it may not owe that money depending on what happens next. Johnson's claim is flagged contingent, unliquidated and disputed, which is basically LIV saying it is actively fighting that claim.

Beyond the players, IMG Media is owed $3.2 million as a vendor and the United Nations refugee agency is listed as owed $1.72 million under a grant agreement, though LIV disputes that, too. Three creditors, including Premier Golf League, the rival concept that predated LIV's launch, show up with no dollar amount, just "undetermined," because those debts are tied to lawsuits still being fought out.

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