LIV Golf paid $15 million to retain executives before filing for bankruptcy, court records show

LIV Golf paid $15.6 million to retain seven of its executives, including $6.375 million to CEO Scott O’Neil, in the months between Saudi Arabia’s sovereign wealth fund saying it was ending financial support and LIV filing for Chapter 11 bankruptcy.

The payments are part of a trove of documents filed late Thursday in U.S. Bankruptcy Court in New Jersey. That included 129 payments to creditors in the 90 days before LIV’s bankruptcy filing and $26 million to Jon Rahm in the year before the Sept. 8 filing.

Another payment in the previous year was to Greg Norman, who left as LIV’s first CEO in January 2025. He was paid a $5.8 million settlement and a $3.6 million bonus on Sept. 26, 2025.

LIV Golf is trying to emerge from bankruptcy without the financial muscle of the Public Investment Fund of Saudi Arabia, which spent upward of $5 billion since the rival league launched in June 2022 and offered nine-figure bonuses to top PGA and European tour players.

BC Partners Credit has pledged up to $300 million to back what is being called “LIV 2.0.” Key to that is players staying with the league, and already a number of top players — Rahm, Sergio Garcia, Louis Oosthuizen, Adrian Meronk and rising Spaniard David Puig — have separated from LIV agreements or indicated they are leaving.

It’s not unusual for companies going through bankruptcy to compensate top executives to get through the process. Documents show David Phillipps, the chief financial officer, received a $3.37 million retention payment and John Ruzich, the chief legal officer, received $2.6 million, both on June 24. That’s also when O’Neil was paid his $6.375 million.

O’Neil also received a $2.7 million bonus on Feb. 13, two weeks before the start of the Iran war and two months before PIF’s board approved a new investment strategy that led to LIV Golf’s funding ending after the 2026 season.

Payment to players include Rahm, Bryson DeChambeau (nearly $13.9 million), Dustin Johnson ($10.7 million) and Cameron Smith and Bubba Watson, both around $2.5 million.

LIV also faces two lawsuits for unpaid services. Canadian-based Mobbi Systems Group is seeking more than $1 million for supplying LIV’s “Any Shot, Any Time” feature on broadcasts. Also, Colorado-based Fresh Tape Media seeks $1.2 million for producing LIV’s media preview days.

Both are listed among the 129 creditors with unsecured claims.

O’Neil was asked at LIV’s final event in August about Fresh Tape Media and other companies that haven’t been paid and how he would attract new services going forward.

“What I would say to them is we’re doing everything we can to make sure we can do right by them and the work they committed, and I hope we can,” he said. “For the next generation, it will certainly be a different business with a different process.”

The creditors listed in court documents indicate the cost and expanse of LIV’s tournaments around the world with 13 teams, including music being played during the round and concerts afterward.

Among the claims is $178,087.50 for the American Society of Composers, Authors and Publishers; $105,018.06 for Applause App Quality; $18,948.00 to Thailand-based Fenix Apparel and Accessories; and $35,416.66 to broadcaster Jerry Foltz.

LIV’s bankruptcy proceeding has a Nov. 5 hearing in the bankruptcy court. BC Partners originally set a Sunday deadline for players to decide if they are on board for LIV 2.0, though that deadline can be extended under an amended restructuring agreement.

The new version is aiming for prize funds of about $9 million — down from $20 million for individual purses — with at least 10 tournaments and a focus on team golf.

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