LIV Golf laying groundwork for potential bankruptcy, according to report
LIV Golf is reportedly preparing to file for bankruptcy following a significant withdrawal of support from Saudi Arabia's Public Investment Fund. The league has faced substantial financial losses, estimated between $5 to $8 billion since its inception in 2021. In light of these challenges, LIV is seeking new investments and considering relocating its headquarters to the U.S. for more favorable bankruptcy laws.
- ▪LIV Golf is laying the groundwork to potentially file for bankruptcy, according to a report from Bloomberg.
- ▪The league has faced an estimated $5 to $8 billion in losses since its launch in 2021.
- ▪LIV is seeking $250 million in fresh investment and is considering relocating its headquarters to the United States.
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