In the months leading up to its Chapter 11 bankruptcy filing, LIV Golf distributed millions in retention payments to its top executives, with CEO Scott O’Neil receiving the largest share.
According to Golfweek, O’Neil was awarded a $6.375 million retention bonus on June 24, less than three months before LIV Golf’s bankruptcy filing. This sizable payout followed a separate bonus of roughly $2.7 million granted to him on February 13.
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In total, O’Neil received more than $13.6 million through payroll, bonuses, benefits, retention payments, and expense reimbursements over a brief period. This substantial compensation has drawn scrutiny, especially as the league struggled to meet its financial obligations to players, contractors, and vendors during its period of distress.
Golf Digest also reported that O’Neil was not the only executive to receive substantial bonuses or settlements before the league’s bankruptcy. Several other high-ranking officials also received significant compensation packages.
Greg Norman, the league’s former commissioner and CEO, received a settlement of approximately $5.8 million, in addition to a $3.6 million bonus, prior to stepping down and departing from LIV Golf.
David Phillips, the chief financial officer, received over $3.3 million, while John Ruzich, the chief legal officer, was paid around $2.6 million.
These executive payouts are particularly notable given reports that LIV Golf failed to compensate contractors and vendors for their services. This alleged nonpayment has resulted in multiple lawsuits from companies such as Fresh Tape Media, Mobii Systems, Deltatre, and Fantasy Interactive, among others.
This article originally appeared on USA TODAY: LIV Golf paid executives millions before bankruptcy, while players, vendors went unpaid