LIV Golf paid its CEO $6.4 million in the months before filing for bankruptcy

LIV Golf gave seven executives retention payments totaling $15.6 million before filing for Chapter 11 bankruptcy protection on Sept. 8, including $6.375 million to CEO Scott O'Neil, according to The Associated Press.

The payments appear in documents filed Oct. 22 in U.S. Bankruptcy Court in New Jersey, according to The Associated Press. O'Neil's retention payment came on June 24, the same day the chief financial officer received $3.37 million and chief legal officer John Ruzich received $2.6 million.

O'Neil also received a bonus on Feb. 13 worth roughly $2.7 million, according to The Associated Press. From Sept. 12, 2025, to Aug. 28, 2026, he collected over $13.6 million in total, a figure that combines expense reimbursements, retention payments, benefits, bonuses and payroll, according to ESPN.

The filings list other large payments, according to The Associated Press. Greg Norman, LIV's first CEO, collected a $3.6 million bonus on Sept. 26, 2025, along with a $5.8 million settlement. Golfer Jon Rahm received $26 million in the year before the bankruptcy filing. The documents also itemize 129 creditor payments made during the 90-day period preceding the filing.

The Public Investment Fund of Saudi Arabia has put more than $5 billion into the league since it debuted in June 2022, according to The Associated Press. The fund's decision on a new investment strategy led to the end of LIV's funding after the 2026 season. BC Partners Credit has committed as much as $300 million to support a restructured league branded "LIV 2.0."

U.S. Bankruptcy Judge Michael B. Kaplan approved LIV’s entry into a restructuring arrangement with BC Partners, according to ESPN. The plan provides a $4 million starting loan to cover operating costs while the bankruptcy case proceeds. A LIV attorney told Kaplan that the league expects clarity by October’s close on whether to proceed with LIV 2.0 or shut down, according to ESPN.

LIV's bankruptcy case has a hearing set for Nov. 5, according to The Associated Press. The new version of the league plans to cut individual purses to roughly $9 million from $20 million, while staging a minimum of 10 tournaments and emphasizing team play.