LIV Golf rescue financing collapses as league nears liquidation
LIV Golf is approaching a critical court hearing after losing a proposed financing package meant to support a reworked version of the league. The setback comes after the circuit, already in Chapter 11, fails to secure enough player commitments for the planned relaunch.
Highlights
- BC Partners Credit withdraws commitment of up to $300 million in rescue financing after LIV Golf fails to secure sufficient player commitments for its revamped structure.
- LIV Golf now faces a U.S. bankruptcy court hearing focused on potential asset liquidation, after filing for Chapter 11 in September following over $5 billion in PIF investments since 2022.
- With only four players committed to LIV 2.0 and no new funding, the league's restructuring prospects collapse, increasing the likelihood of a court-supervised liquidation.
Bankruptcy hearing shifts toward asset liquidation
As first reported by CNBC, citing the Associated Press, BC Partners Credit withdraws plans to provide up to $300 million for a revamped LIV Golf after the league fails to line up sufficient player commitments. The proposed relaunch, described as LIV 2.0, would have restructured the business around a reduced schedule and majority player ownership.LIV is scheduled to appear in U.S. bankruptcy court on Thursday, with the hearing now expected to center on liquidation of the league's assets. The final outcome remains uncertain, and neither LIV Golf nor BC Partners immediately responds to requests for comment.
LIV files for Chapter 11 bankruptcy protection in September after Saudi Arabia's Public Investment Fund says it will stop backing the league after the 2026 season. Court filings state that PIF has invested more than $5 billion since LIV launched in 2022.
Funding retreat deepens pressure on breakaway golf venture
The loss of BC Partners' support adds to pressure on the breakaway golf venture as it struggles to retain enough competitive backing for a relaunch. LIV has already lost several prominent players while seeking commitments for the new structure.Only four players have publicly committed to LIV 2.0, undermining the viability of the proposal that BC Partners was prepared to finance. Without fresh capital and broader player participation, the league faces rising risk that its restructuring effort gives way to a court-supervised wind-down.
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