Aussie golfer owed millions amid LIV bankruptcy turmoil
Some of golf’s biggest names could be owed millions after LIV Golf filed for bankruptcy protection. The news sparking concern in SA.
LIV Golf has filed for bankruptcy protection in the United States, with its stars, including Australia’s Cam Smith, likely to be free to quit – but they may also have to chase unpaid contracts through the courts.
News of the latest turn of events has again raised concerns about LIV Golf’s future in SA with Greens Leader Robert Simms calling for more information on its local impacts.
The BBC reported LIV Golf has filed a Chapter 11 petition in New Jersey to “preserve the company’s business”.
This allows a company to reorganise its operations while protecting it from lawsuits, debt collection and attempts to close it down. It then produces a plan to pay off creditors, which in this case will include some of the world’s best-known golfers.
Saudi Arabia’s Public Investment Fund (PIF), which set up the league, decided in April to cease its backing, leaving tour executives scrambling for new funding.
PIF will provide $US49.6 million in financing to assist the Chapter 11 process, reported Reuters.
You might like
Adelaide is set to host LIV Golf at Kooyonga Golf Club in Lockleys in 2027, then the event was expected to move to a redeveloped North Adelaide Golf Course from 2028.
“The Malinauskas Government has already cut down hundreds of trees and committed tens of millions of dollars to this project. It cannot simply shrug its shoulders now that LIV has gone bust,” Simms said.
“They’ll say the fallback is the Australian Open, but why did taxpayers need to spend $45 million when Adelaide already has a world-class course with a proud history of hosting the tournament?
“The government made this gamble with public money. South Australians deserve to know what the plan is now.”
It was unclear how the bankruptcy protection news would impact the future events in Adelaide, but a government spokesperson told InDaily that “LIV Golf advised the SA Government of its intentions around restructure”.
“While we wish them every success in this endeavour, the government has not rested on its laurels, securing a long-term deal to deliver both the men’s and women’s Australian Open in Adelaide from 2028,” the spokesperson said.
Stay informed, daily
“The state government has strong contractual arrangements in place for major events and does not pay for events that are not delivered to the expected quality.”
LIV Golf has said it will move to a majority player-owned league early next year, backed by BC Partners.
But players do not have to sign on to LIV 2.0, regardless of whether they had previously signed long contracts with the breakaway circuit.
Amounts owed to players and other creditors will be addressed through the court process, according to the BBC.
The 2026 LIV season ended earlier than planned after the cancellation of the team championship in Detroit. LIV confirmed it was “scaling back operations”, and some employees were laid off at the start of this month.
Other high-profile Australians to have played with LIV Golf include Marc Leishman, Elvis Smylie, Lucas Herbert and Matt Jones.
Speaking in the build-up to the Irish Open, before news of the Chapter XI petition broke, LIV’s biggest star, Jon Rahm, was asked if he knew what the future held.
“Yes and no, it hasn’t really changed from my last interview in Indianapolis a few weeks ago,” the two-time major winner said.
“And there’s just a lot of things in place, right? There’s a lot of things that could happen, and it’s one of those things where time’s gonna tell.
“To be fair, for us people that joined LIV, I’m pretty good at dealing with turbulence.”
-with AAP
Want to see more stories from InDaily SA in your Google search results?
- Click here to set InDaily SA as a preferred source.
- Tick the box next to "InDaily SA". That's it.
