LIV Golf Moves to Liquidation, Ending a League That Burned Through More Than $5 Billion
LIV Golf announced at a Nov. 5 hearing in New Jersey bankruptcy court that it will end operations and move into liquidation, rather than relaunch in a new form. Attorneys for the league announced the decision at the hearing, formally closing the chapter on a circuit that once shook the golf world.
Since its launch in 2022, LIV Golf has spent more than $5 billion. It lost its Saudi Arabian funding in April of this year and filed for bankruptcy in September. Backed by Saudi Arabia's sovereign wealth fund, the league lured top players with huge signing fees and went head-to-head with the PGA Tour, splitting the sport. Without its funding source, it could no longer sustain operations.
Court filings show the liquidation will deal with the league's remaining assets and debts, with creditors to be repaid through the bankruptcy process. How player contracts, broadcast agreements and event arrangements will be wound down remains to be determined during the liquidation. Analysts say the golf world could move back toward unification after the Saudi withdrawal, though the path remains unclear.
(Source: Associated Press)
Source: Associated Press
Published by GSM · USA (original Chinese edition)
Photo: 图：高尔夫球场果岭。（公共领域） / Photo: A golf course green.
