Published:
LIV Golf paid $15.6 million in retention awards to seven executives in the months before the breakaway league filed for Chapter 11 bankruptcy protection, according to court records reported on October 23 and 24, 2026. The disclosures show CEO Scott O’Neil received a $6.375 million retention payment on June 24, less than three months before the September 8 filing, as the league faced a major funding transition and uncertainty over its future.
The figures have emerged as LIV attempts to reorganize after Saudi Arabia’s Public Investment Fund said it would end financial support after the 2026 season. The league is seeking a path forward with backing from BC Partners Credit, but its court filings also detail liabilities, creditor claims and payments to players and executives.
The court documents show O’Neil received a $6.375 million retention payment in June, following a separate bonus of approximately $2.7 million on February 13. From September 12, 2025, to August 28, 2026, he received more than $13.6 million in payroll, bonuses, benefits, retention payments and expense reimbursements, according to the financial disclosures.
Other senior executives also received substantial retention payments. Chief financial officer David Phillipps was paid about $3.37 million, while chief legal officer John Ruzich received $2.6 million. The total reported retention payments to seven executives came to $15.6 million.
The records also detail compensation paid to former commissioner Greg Norman after he left the organisation in 2025. Norman received a settlement of about $5.8 million and a bonus of $3.6 million in September of that year, according to reports based on the court filings.
LIV Golf and related entities filed voluntary Chapter 11 petitions in the U.S. Bankruptcy Court for the District of New Jersey on September 8, 2026. The filings placed the league’s assets in a range of $100 million to $500 million and its liabilities between $500 million and $1 billion.
Chapter 11 allows a business to continue operating while it works through a court-supervised restructuring process. It does not automatically mean the business has ceased operations, but it does place financing, creditor claims and the proposed future structure under judicial oversight.
The disclosures include 129 payments to creditors in the 90 days before the filing. Some service providers have also asserted unpaid claims. Mobbi Systems Group has sought more than $1 million for work on LIV’s broadcast feature, while Fresh Tape Media has claimed $1.2 million for producing media preview days, according to reporting on the court records. These are claims in the proceedings, rather than findings that the amounts are owed.
The court records also list $26 million in payments to Jon Rahm in the year before the September filing. Other reported player payments included nearly $13.9 million to Bryson DeChambeau and $10.7 million to Dustin Johnson over the period covered by the disclosures. Such payments reflect the league’s high-cost model, built around signing leading players and staging international team events.
LIV launched in 2022 with substantial backing from Saudi Arabia’s Public Investment Fund, which invested more than $5 billion in the rival circuit, according to news reports. The league’s future now depends on whether a restructured model can attract sufficient financing, retain players and maintain commercial partnerships without the same level of PIF support.
BC Partners Credit has pledged up to $300 million in financing for a proposed continuation known as LIV 2.0. The plan would make changes to the competition structure and prize money, with reports indicating a focus on team golf, at least 10 tournaments and individual prize funds reduced from $20 million to about $9 million.
The financing proposal is tied to the participation of players in the restructured business, including discussions about equity and future compensation. Several players have reportedly separated from LIV agreements or indicated they may leave, making player commitments a key factor in determining whether the revised league can proceed.
The financial changes also come amid questions about the league’s ability to meet obligations to vendors and other creditors. A successful restructuring would need to address existing claims while establishing a more sustainable operating model for future seasons.
LIV’s restructuring case is due to return to the bankruptcy court for a hearing scheduled for November 5, 2026, according to reporting on the proceedings. That hearing and the terms of the proposed financing are important steps in determining whether the league continues in a revised form or winds down its operations.
The latest filings provide a clearer picture of executive payments, player compensation and creditor claims, but they do not by themselves determine the final outcome of the restructuring. LIV’s future will depend on court-supervised decisions, the availability of financing and whether enough players and commercial partners support the proposed next phase.
