LIV Golf's $300M Bankruptcy Rescue: Players Get 52.5% Ownership

LIV Golf players would own more than half of the restructured league under a $300 million rescue deal filed late Monday in the league's Chapter 11 bankruptcy case.

According to a term sheet filed with the court, "go-forward player ownership will equal 52.5 percent" of LIV Golf 2.0. BC Partners would hold 45 percent alongside any minority investors, and management would keep 2.5 percent.

The restructuring support agreement between LIV Golf and BC Partners was the long-awaited centerpiece of Monday's filing. League CEO Scott O'Neil said the new version of the circuit would run a scaled-back schedule and take a more "disciplined" approach.