LIV Golf paid $15.6m to execs before bankruptcy, court files reveal
LIV Golf's looming bankruptcy didn't prevent the embattled tour from paying out massive bonuses to executives before filing for Chapter 11 in September.
TL;DR
- LIV Golf paid $15.6 million in retention bonuses to seven executives, including CEO Scott O'Neil, prior to its September bankruptcy filing.
- The tour also paid substantial amounts to players like Jon Rahm ($26 million in the year before filing) and Bryson DeChambeau ($13.9 million).
- LIV Golf is seeking to emerge from bankruptcy with up to $300 million in funding from BC Partners for 'LIV 2.0,' aiming for revised prize funds and tournament structures.
- The company faces lawsuits from Mobbi Systems Group and Fresh Tape Media for unpaid services, with claims listed among unsecured creditors.
- Greg Norman, former CEO, received a $5.8 million settlement and a $3.6 million bonus before his departure.