LIV Golf Future to be Decided by October 31, Attorney Tells Bankruptcy Court

Attorney Robert Fitzgerald stated LIV Golf will know by Oct. 31 if the league will wind down or proceed with a restructured LIV 2.0 model.

LIV Golf attorney Robert Fitzgerald informed U.S. Bankruptcy Court Judge Michael B. Kaplan on Wednesday that the league will determine by Oct. 31 whether it will cease operations or proceed with a restructured "LIV 2.0." During the hearing, Judge Kaplan approved a motion to reject the current contracts of 19 golfers, including Bryson DeChambeau, Dustin Johnson, Cameron Smith, and Bubba Watson. The league maintains these rejections are necessary to negotiate new deals under a proposed compensation structure that offers players equity in the revamped circuit.

The proposed ownership for LIV 2.0 allocates 52.5% of equity to golfers, 45% to BC Partners and minority investors, and 2.5% to management. BC Partners has agreed to provide up to $300 million in financing, starting with an initial $4 million loan to maintain operations during the Chapter 11 process. However, two-time major champion Jon Rahm will not participate in the new iteration, according to his attorney. Other players, including David Puig and Abraham Ancer, are reportedly leaving the tour, while Marc Leishman and Harold Varner III have requested releases to explore other opportunities.

Fitzgerald raised anti-competitive concerns regarding the DP World Tour's recent decision to ban golfers from competing in both circuits next season. CEO Guy Kinnings stated the DP World Tour will not grant conditional status to LIV 2.0 players in 2027, a shift from previous seasons that allowed Jon Rahm and Tyrrell Hatton to maintain dual membership. Golfers face a Nov. 16 deadline to apply for DP World Tour membership, a timeline Fitzgerald characterized as an attempt to interfere with LIV's reorganization process.