๐จ๐โณ๏ธ #UPDATE โ A barrage of new information has emerged in the hours that have followed LIV Golfโs Chapter 11 Bankruptcy filing in the state of New Jersey.
๐ฐ Hereโs a recap of whatโs known right now with reporting from @GabbyHerzig, @flushingitgolf, @BBCSport, @FT & more.
๐ฐ โ The filing revealed that LIV Golfโs liabilities come in between $500M to $1 Billion
โ๐ป โ PlF will provide nearly $50M in debtor in possession financing that will be contingent upon various milestones including LIV signing a final re structuring agreement with BC Partners, who LIV Golf have now formally named for the first time
๐ โ The unsecured creditor list reportedly only represents 3rd quarter payments that are outstanding, not entire contract figures that are owing. This list included Jon Rahm ($7.4M), Bryson DeChambeau ($5.7M) and even Brooks Koepka ($1.7M), among others
โ โ Players reportedly have no obligation to sign with LIV 2.0, and previous unpaid contract amounts will be dealt with in court
๐ฑ โ Jon Rahm is believed to likely still be owed in excess of 9 figures in guarantees
๐ โ YouTube content creator Rick Shiels & The State of Louisiana are each owed more than $1M
๐ โ LIV CEO Scott OโNeil has confirmed that LIV 2.0 aims to see see expanded, 75-man fields, introduce a 54 hole cut and see the addition of Monday qualifiers
โ๏ธโ OโNeil informed players of todayโs news via a group chat that Jon Rahm chose to remove himself from, prior to LIVโs final event of the season. He and former LIV golfer Danny Lee are the only players to have left the chat
A letter to LIV Golf fans from 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. 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.
Read in full: https://t.co/nClPL9dSfY
#LIVGolf
Rory McIlroy to BBC Sport NI regarding Donald Trump attending Irish Open this weekend: 'If he wants to come and watch the Irish Open, who are we to say no' ๐ฃ๏ธ
With respect to the legends of the game....
Is this the best video to ever come out of The Walker Cup?
Dogs walking on a wall. Dogs stopping for pets. We are now a dog account.