NEWARK, N.J. — As LIV Golf navigates a precarious transition into “LIV 2.0,” a trove of bankruptcy court documents has revealed that the embattled league paid out $15.6 million in retention bonuses to seven top executives in the months preceding its Chapter 11 filing.
The disclosures, filed late Thursday in the U.S. Bankruptcy Court in New Jersey, provide a stark look at the financial maneuvers taken by the golf circuit just before it lost the backing of Saudi Arabia’s Public Investment Fund (PIF). The documents show that CEO Scott O’Neil received $6.375 million on June 24, the same day that Chief Financial Officer David Phillipps was paid $3.37 million and Chief Legal Officer John Ruzich received $2.6 million.
These retention payments occurred after the PIF signaled it would end its financial support—a massive blow for a venture that had burned through upwards of $5 billion since its 2022 inception. The filings also detail substantial payouts to players, including $26 million to Jon Rahm and nearly $13.9 million to Bryson DeChambeau in the year leading up to the September 8 bankruptcy filing. Additionally, former CEO Greg Norman, who departed in January 2025, received a $5.8 million settlement and a $3.6 million bonus in late September.
As LIV Golf struggles to reorganize without the near-infinite resources of its original Saudi backers, it faces a mounting list of creditors. Court filings show 129 separate claims from vendors and service providers, including a $1 million demand from Mobbi Systems Group and $1.2 million owed to Fresh Tape Media for production services. Other creditors include the American Society of Composers, Authors and Publishers, and even individual golf broadcasters.
When questioned about the unpaid vendors at the league’s final event in August, O’Neil stated that the organization is “doing everything we can to make sure we can do right by them.” He added that the next iteration of the league would involve a “different business with a different process.”
That new business model, backed by a $300 million pledge from BC Partners Credit, marks a significant scaling back for the league. LIV 2.0 is expected to feature prize purses of approximately $9 million—a sharp decline from the $20 million individual purses that once defined the tour—with a continued emphasis on team-based competition.
The viability of this restructure remains in question as top talent begins to exit. Major stars, including Rahm, Sergio Garcia, and Louis Oosthuizen, have already separated from their agreements or indicated their intent to leave as the league faces a November 5 court hearing. While BC Partners originally set a Sunday deadline for players to commit to the new version of the league, that window remains subject to change as the organization fights to survive in a diminished form.
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