LIV Golf filed for Chapter 11 bankruptcy protection in New Jersey with estimated liabilities of $500 million to $1 billion and assets of $100 million to $500 million after Saudi Arabia's Public Investment Fund withdrew broader financial backing. The creditor list includes Rick Shiels Media, owed $1.4 million in unsecured debt, and at least 24 people and entities with claims exceeding $1 million. Jon Rahm and Bryson DeChambeau are each listed as owed more than $7 million in the latest documents, though earlier reports put DeChambeau's unsecured claim at roughly $5.7 million. PIF, which invested more than $5 billion in LIV, has agreed to provide $49.6 million in debtor-in-possession financing. LIV has a restructuring agreement with BC Partners Credit under which players are expected to hold a majority stake in a reorganized league, subject to court and stakeholder approval. CEO Scott O'Neil said the filing is intended to provide time and structure for a transaction and a new version of the league in 2027.