AN organisation working with some of the world’s richest and best-known sportspeople has placed its Jersey-based parent and holding companies into administration as part of a restructuring process.
LIV Golf voluntarily filed for bankruptcy in the United States earlier this month, and this week, the two companies headquartered in Jersey were put into administration by the Royal Court.
International media reported that LIV had liabilities in excess of US$500 million including unpaid compensation to players such as two-time major winners Jon Rahm ($7.5m), Bryson DeChambeau ($5.7m) and Dustin Johnson ($5.5m).
The LIV tour was founded in 2022, financed by the Public Investment Fund, the sovereign wealth fund of Saudi Arabia, and attracted dozens of the world’s top players. Its establishment attracted criticism from some observers about so-called “sports-washing”, with the Saudi monarchy, accused of corruption and human rights abuses, seeking to improve its public image through sports.
Former British Open champion Greg Norman was the chief executive of LIV between 2021 and 2025, while in April 2026 the Saudi funding was withdrawn.
LIV officials are reported to be seeking to restructure their operation by bringing in a new ownership model in which players would agree to take on equity, rather than pursue their unpaid compensation. Should more than one-third of the playing group reject this offer ahead of a deadline of13 October, it has been reported that the restructuring would collapse into a full liquidation.
Joint administrators from Teneo Financial Advisory and AlixPartners UK were appointed by the Royal Court, with creditors of LIV Golf Holdings and/or LIV Golf Investments asked to submit claims by 30 October.
