REPORT: LIV Golf has not paid back $1.2 million to Louisiana after filing for bankruptcy
NEW ORLEANS — LIV Golf has not yet paid back $1.2 million it owes to Louisiana after filing for bankruptcy, The Advocate reported.
The LIV Golf tournament was to be held in New Orleans City Park over the summer before the Public Investment Fund of Saudi Arabia abruptly ended its financial support. LIV Golf filed for Chapter 11 bankruptcy protection Tuesday with more than $500 million in debt.
At the time, a statement from Governor Jeff Landry and Louisiana Economic Development Secretary Bourgeois said the state paid LIV Golf $3.2 million ahead of the event.
Leaders said $2 million of the cost was set aside for improvements to City Park, which will continue as planned. The other $1.2 million was expected to be paid back by LIV Golf, but that has not happened at this time.
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A spokesperson told The Advocate that the LED and the LIV Golf are in formal discussions to get the money back, but did not provide more details.