There's No Money Here': Renowned Sports Lawyer Sends Blunt Message To Unpaid Vendors Amid LIV 2.0 Construction

LIV Golf’s Chapter 11 case is raising questions about whether unpaid vendors will ever recover much, according to testimony discussed by sports lawyer Jodi Balsam. In comments related to LIV’s “LIV 2.0” restructuring, Balsam said the league reported assets of $100 million to $500 million against liabilities of $500 million to $1 billion, and that LIV owes $495 million to the Saudi Public Investment Fund. LIV filed for Chapter 11 in New Jersey on September 8 after PIF ended equity funding of about $5 billion. The petition lists more than 1,000 creditors and describes tax losses as the biggest bankruptcy asset, with a restructuring support agreement approved on October 14.