New bankruptcy court documents have revealed that LIV Golf CEO Scott O’Neil received a $6.375 million retention payment less than three months before the breakaway golf league filed for Chapter 11 protection, bringing renewed attention to executive compensation during the organization’s financial crisis.
LIV Golf’s financial difficulties have taken another significant turn after newly disclosed court records revealed multimillion-dollar payments to senior executives in the months leading up to the league’s September 2026 bankruptcy filing.
According to an ESPN report published October 23, documents submitted to the U.S. Bankruptcy Court for the District of New Jersey show that LIV Golf CEO Scott O’Neil received a retention bonus of $6.375 million on June 24, 2026.
The payment came less than three months before LIV Golf voluntarily filed for Chapter 11 bankruptcy protection on September 8.
Court records also indicate that O’Neil received more than $13.6 million in total recorded compensation, benefits and expense reimbursements over a period of less than one year.
The disclosures arrive as LIV Golf attempts to secure fresh investment, restructure its operations and determine whether its proposed 2027 relaunch can proceed.
Scott O’Neil Received $6.375 Million Bonus Before LIV Golf Bankruptcy
The latest financial disclosures provide a closer look at how LIV Golf compensated its senior leadership ahead of the bankruptcy proceedings.
According to the company’s statement of financial affairs, filed Thursday, October 22, O’Neil received a $6.375 million retention payment on June 24.
Earlier in the year, on February 13, he had received another bonus of approximately $2.7 million.
Records covering September 12, 2025, through August 28, 2026, show that O’Neil received more than $13.6 million across several categories, including payroll, bonuses, retention payments, employee benefits and expense reimbursements.
That broader figure should not be interpreted as his base salary alone.
Retention payments are generally intended to encourage key personnel to remain with an organization during important transitions or periods of uncertainty.
However, the timing and size of these payments have attracted attention because LIV Golf subsequently sought bankruptcy protection while facing considerable financial obligations.
The court disclosures document the compensation, but they do not establish that the payments were unlawful or improperly authorized.
LIV Golf Paid Approximately $15.6 Million in Executive Retention Payments
O’Neil was not the only LIV Golf executive to receive substantial payments before the bankruptcy filing.
The financial records indicate that approximately $15.6 million was distributed to senior executives through retention arrangements.
Other executives named in the disclosures include chief financial officer David Phillips and chief legal officer John Ruzich.
Phillips received more than $3.3 million, while Ruzich received approximately $2.6 million, according to reporting on the court documents.
Key Financial Figures Revealed
| Executive or category | Reported amount |
|---|---|
| Scott O’Neil — June 2026 retention bonus | $6.375 million |
| Scott O’Neil — February 2026 bonus | Approximately $2.7 million |
| Scott O’Neil — total recorded payments, benefits and reimbursements over the reported period | More than $13.6 million |
| David Phillips — reported payments | More than $3.3 million |
| John Ruzich — reported payments | Approximately $2.6 million |
| Total senior executive retention payments | Approximately $15.6 million |
These are different reporting categories and periods. Some amounts overlap and should not be added together to calculate total executive compensation.
The disclosures provide additional insight into the financial decisions made during LIV Golf’s transition away from its original funding structure.
They also highlight the significant financial commitments associated with operating the league.
Former LIV Golf CEO Greg Norman Received More Than $9.4 Million
The bankruptcy records also reveal substantial payments to Greg Norman, the Australian golf legend who helped launch LIV Golf in 2022.
Norman, who served as LIV Golf’s founding commissioner and chief executive, received more than $9.4 million when he departed the organization in September 2025.
The reported amount included a settlement of approximately $5.8 million and a separate $3.6 million bonus.
Norman had played a central role in establishing LIV Golf as an alternative to traditional men’s professional golf.
Under his leadership, the league recruited several high-profile players, including major champions who signed lucrative participation agreements.
Scott O’Neil subsequently took over leadership responsibilities, with a greater emphasis on commercial development, business sustainability and long-term financing.
The disclosure of Norman’s departure payments adds another dimension to the financial picture emerging from the bankruptcy proceedings.
Why Did LIV Golf File for Chapter 11 Bankruptcy?
LIV Golf filed for Chapter 11 bankruptcy protection on September 8, 2026, after its original principal backer, Saudi Arabia’s Public Investment Fund, decided to discontinue ongoing financial support.
The league launched in 2022 with substantial Saudi investment, offering significant financial incentives to attract established professional golfers.
Its entry into the sport challenged the PGA Tour’s traditional position and contributed to a prolonged period of division in men’s professional golf.
However, maintaining an international tournament schedule, player contracts, team operations and commercial activities required extensive financial resources.
When the Public Investment Fund announced it would stop financing the league beyond 2026, LIV Golf faced the challenge of finding an alternative funding arrangement.
Court documents filed in September listed estimated assets between $100 million and $500 million, alongside liabilities between $500 million and $1 billion.
The figures illustrate the scale of the financial problems that the organization is seeking to address.
Chapter 11 allows a company to reorganize its financial obligations under court supervision while attempting to continue operations.
It does not automatically mean that the business has permanently closed.
For LIV Golf, the objective is to emerge from the restructuring process with a revised operating model and sufficient funding to support future competitions.
BC Partners Financing Could Shape LIV Golf’s Future
LIV Golf has been working with BC Partners Credit on a proposed restructuring agreement designed to provide a financial foundation for a new version of the competition.
The proposed financing arrangement could provide up to $300 million to support LIV Golf’s restructuring and future operations.
The investment remains subject to relevant legal, financial and stakeholder approvals.
Under the proposed business model, professional players would hold a majority ownership interest in the reorganized league.
The structure is intended to align the financial interests of participating golfers with the long-term performance of the competition.
LIV Golf has also outlined plans for a smaller tournament schedule, with 10 events proposed for 2027.
The model would represent a significant departure from the league’s previous approach, which relied heavily on financial backing from Saudi Arabia.
However, the proposed relaunch has not yet been secured.
Its future depends on financing conditions, approval of the restructuring arrangements and sufficient player participation.
Player Departures Add Pressure Ahead of October Deadline
The financial disclosures arrive during a particularly sensitive period for LIV Golf.
Several established players have announced they will not participate in the proposed LIV Golf 2.0 competition.
Jon Rahm, Tyrrell Hatton, Ian Poulter and Tom McKibbin are among the prominent names linked to departures ahead of 2027.
Their decisions have created uncertainty about the competitive field that LIV Golf could assemble under its revised format.
The league has set October 25 as a commitment deadline for players considering participation in the proposed relaunch.
Player agreements are especially important because the restructuring arrangement depends partly on retaining sufficient support from participating golfers.
The financial challenges and player decisions are separate developments, and the court disclosures do not establish that any specific player’s departure was caused by executive compensation.
Nevertheless, both issues will affect discussions surrounding the future of LIV Golf.
What Do the Executive Payments Mean for LIV Golf?
The newly revealed compensation figures raise important questions about how LIV Golf managed financial commitments as it approached bankruptcy protection.
The organization’s difficulties are not limited to executive payments.
Its obligations also include player contracts, tournament operations, commercial partnerships and other outstanding liabilities.
These commitments form part of the broader financial challenges being addressed through Chapter 11.
The $6.375 million payment to O’Neil is significant because it occurred relatively close to the bankruptcy filing.
However, understanding whether the payment was appropriate would require additional information about the retention agreement, its approval process and the company’s circumstances at the time.
The disclosed figures alone cannot establish misconduct.
From a business perspective, the reports nevertheless offer a clearer view of LIV Golf’s spending as the league attempts to adopt a more sustainable model.
What Happens Next for LIV Golf?
LIV Golf faces several important decisions before the end of October.
The organization must secure sufficient player commitments and continue working toward court approval of its proposed restructuring.
According to ESPN, a LIV Golf attorney recently told U.S. Bankruptcy Judge Michael B. Kaplan that the organization expected to know by the end of October whether it could proceed with LIV Golf 2.0 or would instead need to wind down operations.
That makes the coming days especially important for the league’s future.
The potential $300 million financing arrangement offers a pathway toward continued competition, but it is not a guarantee that the relaunch will proceed.
Meanwhile, the executive compensation disclosures have added another subject of discussion as creditors, players and stakeholders examine LIV Golf’s financial position.
For an organization that dramatically changed professional golf after launching in 2022, the next stage may prove decisive.
Whether LIV Golf successfully restructures or ultimately ends its operations, the newly revealed court records provide important insight into the financial decisions made during its first chapter.
Frequently Asked Questions
How much was Scott O’Neil paid before LIV Golf filed for bankruptcy?
O’Neil received a $6.375 million retention bonus on June 24, 2026. Court records also show more than $13.6 million in combined payments, benefits and expense reimbursements over a reporting period spanning September 2025 to August 2026.
When did LIV Golf file for bankruptcy?
LIV Golf filed for Chapter 11 bankruptcy protection on September 8, 2026, in the U.S. Bankruptcy Court for the District of New Jersey.
How much did Greg Norman receive from LIV Golf?
New court disclosures indicate that Norman received more than $9.4 million when he departed in September 2025, including a settlement and bonus.
How much did LIV Golf pay executives in retention bonuses?
Approximately $15.6 million was paid in retention arrangements to senior executives, according to the latest financial disclosures.
Is LIV Golf shutting down permanently?
Not necessarily. As of October 24, LIV Golf is attempting to restructure and launch a revised competition in 2027. The final outcome remains uncertain.
Who is financing LIV Golf’s potential relaunch?
BC Partners Credit is involved in a proposed restructuring transaction that could provide up to $300 million in financing, subject to applicable conditions and approvals.
Is Scott O’Neil accused of illegal conduct?
The reviewed reports describe disclosed executive payments. They do not establish that O’Neil engaged in illegal conduct.