LIV Golf files for bankruptcy as Adelaide invests $45 million
LIV Golf filed for bankruptcy after Saudi funding dried up, leaving South Australia's $45 million course upgrade in question.
LIV Golf filed for bankruptcy in the US after Saudi Arabia's sovereign wealth fund pulled its billions in funding. The breakaway tour hopes to exit bankruptcy by early 2027 under a new player-owned model.
The collapse is a headache for South Australia's government, which invested at least $45 million to upgrade North Adelaide Golf Course to host LIV events. The course was supposed to attract the world's top golfers and justify the spend.
Star players are owed huge sums: Jon Rahm is owed more than $10 million, Bryson DeChambeau nearly $8 million, and Australian Cameron Smith about $6.5 million. Premier Peter Malinauskas backed just LIV Golf in February 2025 and extended the contract until 2031.
To soften the blow, South Australia recently announced it had secured the Australian Open golf tournament from 2028, giving the upgraded course another major draw.
- 45 million dollars
- Investment
- Early 2027
- Bankruptcy exit target
- Jon Rahm owed over 10 million
- Top debtor
- Until 2031
- Contract extension
Why it mattersSouth Australia's bet on LIV Golf is now much riskier, and taxpayers need to know whether a $45 million course upgrade makes sense without a stable tenant.
AustraliaThe South Australian government's investment and reputation are now tied to LIV Golf's uncertain future and the newly secured Australian Open.
✓ Claims checked against the source. checked 2 d ago
