LIV Golf has accused the DP World Tour of interference in its bankruptcy proceedings at a hearing in which Bryson DeChambeau and others were released from their contracts.
The breakaway league is attempting to relaunch next year with new money from BC Partners Capital after Saudi Arabia’s Public Investment Fund withdrew its support having ploughed in $5bn (£3.7bn) over four years.
But in order to do that it has had to apply for Chapter 11 bankruptcy and, as a result, it has had to cancel the contracts of the existing players so they can be re-signed on new terms to LIV 2.0.
However, the DP World Tour confirmed this week it was taking a harder line than previously and any player committing to LIV 2.0 would be ineligible for its membership and therefore also ruled out of Ryder Cup contention.
It has been seen in many quarters as an attempt to deliver the final blow to LIV’s fading hopes of survival and, according to reports in the US media, its attorney Robert Fitzgerald told the US Bankruptcy Court in New York: “We’re continuing to monitor this situation very closely and we’re quite concerned by it frankly.
“The timing in particular strikes us as a clear attempt to interfere with our process, with our players and potentially our reorganisation writ large.”
Guy Kinnings, CEO of the DP World Tour, said in a statement on Monday: “Players need to make a choice. As we have said for many years, we have rules and regulations which are there to protect our Tour and which our members must all abide by.
“Players who are not willing to comply with our rules and regulations should not be seeking to join our Tour.”
Also at the US Bankruptcy Court hearing in New York, Judge Michael B Kaplan also approved a motion to reject the current contracts of 19 golfers after LIV stated they “do not reflect the contemplated compensation structure under LIV 2.0”.
Bryson DeChambeau is technically without a contract currently due to LIV’s application for Chapter 11 bankruptcy
It means the likes of DeChambeau, Dustin Johnson, Bubba Watson and Lee Westwood are free to pursue other options should they wish.
Jon Rahm’s release, confirmed at the hearing, has seen him give up all claims against LIV’s bankruptcy estate, reported to be up to $150m (£113m).
Please use Chrome browser for a more accessible video player
Inci Mehmet explains why Jon Rahm is to quit LIV Golf after deeming the terms offered for the proposed relaunch of the breakaway series ‘unacceptable’
LIV has given up nearly all rights to use Rahm’s name, image, likeness, trademarks and branding going forward, while Rahm has retained control of his LIV team Legion XIII’s intellectual property and trademarks.
The next hearing in LIV’s bankruptcy case is scheduled for October 20, with a deadline for player commitments agreed between LIV and BC Partners set for October 25.
Get the best prices and book a round at one of 1,700 courses across the UK & Ireland
Disclaimer : This story is auto aggregated by a computer programme and has not been created or edited by DOWNTHENEWS. Publisher: skynews.com
