LIV Golf Appoints Mark King to Lead Bankruptcy Restructuring

LIV Golf appointed former TaylorMade CEO Mark King as senior adviser and chairman of its Advisory Board on Monday to guide the league through a critical restructuring process. The appointment comes as the circuit attempts to emerge from Chapter 11 bankruptcy protection by implementing a 2.0 model.

This new business model centers on a recapitalization transaction and a proposed investment arrangement with BC Partners Credit, which would provide up to $300 million in financing. Under the proposed structure, players would transition into equity owners of both the league and its individual teams.

Despite a recent court approval of an amended restructuring support agreement that allows the league to rehire staff, LIV Golf faces significant instability. Several high-profile players, including former world number one Jon Rahm, have decided to leave the circuit. The league's next bankruptcy court hearing is scheduled for November 5.