LIV Golf Just Imploded After Burning Through $5 Billion in Saudi Cash
Turns out infinite oil money actually has an expiration date, and golf's loudest disruptor just crashed straight into a sand trap.
Remember when a bunch of golf pros abandoned the PGA Tour for monstrous bags of cash? That grand experiment just died a noisy death. LIV Golf is folding after five chaotic years of rebel tournaments, bitter lawsuits, and zero actual television ratings.
The league blew through around $5 billion courtesy of the Public Investment Fund of Saudi Arabia, racking up roughly $3 billion in net operating losses before the Saudis finally decided they were done lighting money on fire. A rescue deal with BC Partners fell apart, leaving the league in Chapter 11 bankruptcy with up to a billion dollars in liabilities.
The funniest part is who is waiting in line at bankruptcy court to get paid. Top headliners like Jon Rahm, Bryson DeChambeau, and Dustin Johnson are now listed as unsecured creditors for unpaid contract guarantees, right alongside unpaid catering vendors.
Burning five billion dollars just to make pro golf even more annoying to watch on weekends takes a special kind of business genius.
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