Saudi Money Runs Dry, But LIV Golf Executives Received Millions Before Bankruptcy

LIV Golf paid $15.6 million to retain seven executives in the months before filing for Chapter 11 bankruptcy, including $6.375 million to chief executive Scott O’Neil, according to documents filed in a US bankruptcy court.

The payments came after Saudi Arabia’s Public Investment Fund (PIF), which financed the breakaway golf league, announced plans to end its financial support after the 2026 season. The disclosures also detail 129 payments to creditors during the 90 days preceding the bankruptcy filing on September 8.

Chief financial officer David Phillipps received $3.37 million, while chief legal officer John Ruzich was paid $2.6 million on June 24. O’Neil also received a $2.7 million bonus on February 13.

Former CEO Greg Norman, who left the organisation in January 2025, received a $5.8 million settlement and a $3.6 million bonus in September that year.

Player payments were also substantial. Jon Rahm received $26 million in the year before the bankruptcy filing, while Bryson DeChambeau received nearly $13.9 million and Dustin Johnson $10.7 million. Cameron Smith and Bubba Watson each received around $2.5 million.

LIV Golf is now attempting to restructure without the financial backing of PIF, which spent more than $5 billion since the league launched in June 2022. Private investment firm BC Partners Credit has pledged up to $300 million to support a revamped version, dubbed “LIV 2.0”.

However, the league faces uncertainty over player commitments, with Rahm, Sergio Garcia, Louis Oosthuizen, Adrian Meronk and David Puig among those who have separated from their agreements or indicated plans to leave.

The financial strain extends to service providers. Canadian company Mobbi Systems Group is seeking more than $1 million over broadcast services, while Colorado-based Fresh Tape Media is claiming $1.2 million for producing media preview events. Both are among the unsecured creditors listed in court documents.

LIV 2.0 is expected to feature at least 10 tournaments, focus more heavily on team golf and offer individual prize purses of around $9 million, down from $20 million.

The bankruptcy court is scheduled to hold its next hearing on November 5, as LIV attempts to secure its future amid mounting financial and operational challenges.