LIV Golf shelled out a staggering $15.6 million to seven of its top executives, including a massive $6.375 million for CEO Scott O’Neil, in the months leading up to its Chapter 11 bankruptcy filing. This isn’t just a small detail, folks. This happened right after Saudi Arabia’s sovereign wealth fund announced it was pulling its financial support. Talk about a curveball! These payments, along with a ton of other financial details, just hit the U.S. Bankruptcy Court in New Jersey, and you have to wonder what they were thinking.
The Money Trail Before the Crash
So, let’s break down where the money went as LIV was seemingly heading for the financial rocks. We’re talking $15.6 million total to keep seven executives on board, with CEO Scott O’Neil snagging more than $6 million of that. It’s a bold move, or maybe a desperate one, to pay out that kind of cash to leadership when your main funding source just said “see ya.” These weren’t the only payouts, either. Court documents also show 129 other payments to creditors in the 90 days right before LIV officially filed for bankruptcy. It paints a picture, doesn’t it?
The Big Names and Big Bucks
And it’s not just the execs who were getting paid. In the year leading up to the September 8 filing, Jon Rahm pocketed a cool $26 million. Then there’s Greg Norman, the league’s first CEO who stepped down in January 2025. He got a $5.8 million settlement and a $3.6 million bonus on September 26, 2025. This all makes sense when you remember the Public Investment Fund of Saudi Arabia, LIV’s former backer, poured more than $5 billion into the league since its June 2022 launch, reportedly offering nine-figure bonuses to lure top PGA and European tour players. They were playing with serious money, no doubt.
Can “LIV 2.0” Stick the Landing?
Now, LIV Golf is trying to emerge from bankruptcy, but here’s the kicker: they’re doing it without the financial muscle of the Saudi PIF. That’s a massive shift. Instead, BC Partners Credit has stepped up, pledging up to $300 million to back what’s being called “LIV 2.0.” But the biggest challenge for this new iteration? Keeping players with the league. We’ve seen some big names tied to LIV, and whether they stick around or jump ship will be the ultimate test for “LIV 2.0.” Can they really make it work without that massive sovereign wealth fund backing? It’s going to be wild watching this play out, because the stakes for the golf world are massive.
This article was created with AI assistance and published under Seattle On Tap’s editorial standards. See our Editorial Policy.
Originally reported by Yahoo Sports.
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