LIV Golf to wind down after backers withdraw support
LIV Golf faces shutdown after BC Partners drops a $300m financing deal, following PIF's April exit and September bankruptcy filing.
Stock photo for illustration only, not from the actual event
- LIV Golf is set to shut down its proposed LIV 2.0 project
- BC Partners withdrew from a potential $300m financing deal
- Saudi Arabia's PIF pulled its financial backing back in April
- Legal counsel is expected to announce the collapse in court on Thursday
The turbulent saga surrounding LIV Golf has reached a critical turning point as plans for its revamped LIV 2.0 format are reportedly being wound down. The decision comes after prospective financial backers pulled out of negotiations, failing to secure the necessary player commitments before crucial deadlines.
LIV had been in talks with BC Partners Credit to secure up to 300 million dollars, equivalent to 223 million pounds, in fresh funding. This lifeline was being pursued after Saudi Arabia's Public Investment Fund (PIF) withdrew its financial support in April, a move that ultimately forced the breakaway league to file for bankruptcy protection in September.
While organizers working on LIV 2.0 claimed to have received commitments from co-investors and roughly 30 signed players—including major championship winners—sources indicated that insurmountable timelines and a failure to finalize binding agreements sealed the project's fate. The league had faced a strict deadline to prove sufficient player roster support heading into the 2027 season.
Stock photo for illustration only, not from the actual event
Launched in 2021, LIV Golf sparked one of the most divisive and tumultuous eras in professional golf history, injecting over 5 billion dollars, or 3.7 billion pounds, provided by the PIF. The organization lured high-profile stars like Jon Rahm and Bryson DeChambeau with lucrative contracts and massive prize purses, triggering severe bans from traditional tours and events like the Ryder Cup.
"Exists forever"
Bryson DeChambeau
However, the concept's future grew increasingly bleak after its 2026 season ended prematurely, with an event in Indianapolis on August 26 serving as the final tournament. A steady exodus of marquee players followed, including the departures of Rahm, Ian Poulter, Tyrrell Hatton, and Graeme McDowell, with reports noting Rahm was owed approximately 100 million dollars in remaining contract money upon his exit.
The demise of LIV Golf highlights the extreme financial risks and structural challenges associated with disrupting established sports ecosystems through state-backed capital alone. Without organic revenue streams from broadcasting rights and long-term commercial partnerships, sustaining multi-million dollar guaranteed contracts proved unsustainable once geopolitical and investor priorities shifted.
An attorney representing LIV is expected to formally announce during a court hearing on Thursday that the LIV 2.0 proposal is no longer viable, bringing a definitive end to a disruptive chapter in golf history.
Source: BBC Sport
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