MULTIPLE golfers are owed millions, following the Chapter 11 bankruptcy filed by LIV Golf this week.
The Saudi golf tournament’s backers (PIF) announced they would no longer be supporting the project in April.
Jon Rahm is owed millions from LIV Credit: Getty
Bryson DeChambeau is also one of multiple golfers due a huge payout Credit: Getty
LIV will relaunch with LIV 2.0, but with significantly less money in the project.
Following the news, it has been revealed by the Daily Mail that LIV owe millions of dollars to some of their golf stars.
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Jon Rahm is owed $7.5million (£5.5m), while Bryson DeChambeau is owed $5.8m (£4.3m).
Dustin Johnson, Cameron Smith and Adrian Meronk are owed $5.5m (£4.1m), $4.8m (£3.5m) and $4.4m (£3.2m) respectively, while Tyrrell Hatton is due $3.4m (£2.5m).
LIV FOREVER?
LIV Golf files bankruptcy protection with stars free to leave & owed millions
When Rahm agreed to join LIV, his contract was agreed at a reported $350m (£258m), meaning he has been paid the majority of what he is due.
LIV has partnered with a London-based private equity firm, BC Partners, to fund their next phase.
LIV said in a public statement from CEO Scott O’Neil: “The next phase of LIV Golf will be built around a sustainable business model and deeper alignment between players and the League, with team golf at its core.
“Players will have the opportunity to share directly in the value they help create, while teams will be positioned to grow into enduring global sports businesses.
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“And fans will remain at the center of everything we do. To everyone who wore a team hat, brought their family to an event, watched across the 5 continents, inspired through social media, or just believed professional golf could be for everyone: thank you.
“You helped build the foundation of LIV Golf. Now we build what comes next, with the same ambition we had at the start: bring the next generation of global fans to golf.”
