Inside LIV Golf’s Bankruptcy: 25 Wild Details From The Filing
Huddle Up | Joe Pompliano • • sports
Key Points:
- LIV Golf has officially filed for bankruptcy, revealing detailed financial information in a 128-page First Day Declaration and term sheet from its latest investment group.
- Since 2021, Saudi Arabia’s sovereign wealth fund invested $5 billion into LIV Golf, but the company now has only $15 million in cash remaining.
- In the previous year, LIV generated $208 million in revenue, with nearly half coming from sponsorships, but media rights revenue was notably low at $10 million despite a large broadcast reach.
- Executives were spending about $250,000 annually on corporate credit cards, totaling approximately $3 million per year on travel, meals, and other expenses before bankruptcy.
- LIV held a 10,930-square-foot office lease in West Palm Beach, which it subleased to a law firm, but the arrangement resulted in a net loss, prompting a request to reject both lease agreements.
