LIV Golf could soon be majority player-owned as organization files for Chapter 11 bankruptcy
Summary
LIV Golf, a professional men's golf tour owned by Saudi Arabia's Public Investment Fund, has filed for Chapter 11 bankruptcy protection. This move starts a process to reorganize the company’s finances and operations.Key Facts
- LIV Golf is a professional men's golf tour.
- It is owned by the Public Investment Fund of Saudi Arabia.
- The organization filed for Chapter 11 bankruptcy protection.
- Chapter 11 allows a company to reorganize its debts while continuing to operate.
- The filing was announced on a Tuesday.
- The restructuring could lead to LIV Golf being mostly owned by players.
- The goal is to fix financial problems without shutting down.
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