Phil Mickelson holds 0.23% stake in LIV Golf after Chapter 11 filing
Phil Mickelson was reported to hold a 0. 23% equity stake in LIV Golf when the Saudi-backed tour filed for Chapter 11 bankruptcy protection in New Jersey, according to a source cited by Sportico. LIV Golf announced on 9 September that it had entered Chapter 11 after the Public Investment Fund of Saudi Arabia reduced its financial support, aiming to restructure the league with greater player ownership.
The DP World Tour later said it had received numerous inquiries from LIV players about returning, while Rory McIlroy warned the filing could prompt several players to rejoin the PGA or DP World Tour. In a filing, LIV Golf disclosed $15 million in cash and $208 million in revenue for the prior year.