Smith missing $6.5m, Adelaide in limbo after LIV files for bankruptcy

Australian golf star Cameron Smith has been left stranded, with $6.5 million AUD in payments owed to him following LIV Golf’s chapter 11 bankruptcy filing.

Search efforts and public alert

Cam Smith on the final day at Royal Melbourne. AP

Burdened by estimated liabilities between $500 million and $1 billion, LIV’s financial collapse has severely impacted its roster.

Consequently, the news has allowed players to explore the option to leave the breakaway league.

But Aussie player Smith will need to think carefully, as he is caught near the top of a heavy casualty list of players out of pocket.

Of the 30 largest creditors named in the bankruptcy filing, 14 are players.

Because the documents only list “unsecured claims,” the actual totals owed to these golfers could potentially be even higher.

Search and investigation

Court documents filed in New Jersey reveal the grim financial reality of the breakaway league as it attempts to restructure and survive without its Saudi backers.