LIV Golf Files for Chapter 11 Bankruptcy Protection
The golf league's proposed bankruptcy plan would shift majority ownership to its players, CNBC reported.
LIV Golf has filed for Chapter 11 bankruptcy protection, according to a report by CNBC.
Citing details of the proposed bankruptcy deal, CNBC reported that the golf venture is expected to become majority owned by its players as part of the restructuring plan.
CNBC's report did not include additional details on the timeline of the bankruptcy proceedings or further terms of the ownership restructuring. LIV Golf has not issued a public statement addressing the filing beyond what was reported by CNBC.
Further details on the bankruptcy process, including court proceedings and creditor claims, were not immediately available.
Sources
- LIV Golf files for Chapter 11 bankruptcy protection — CNBC — Top News
EGazette summarizes reporting from multiple sources; follow the links for the originals.
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