LIV to wind down after investors pull out

LIV Golf has confirmed that it will wind down its operations after the credit division of investment firm BC Partners withdrew its support on Wednesday, citing dissatisfaction with the roster of signed‑up players. The league's lawyer Matt Williams told a bankruptcy court on Thursday that the company is "not currently proceeding" with the proposed LIV 2.0 and is instead moving towards a "value‑maximising wind‑down of their business". LIV said it will keep exploring alternatives while the wind‑down proceeds.

The league, which had previously been funded by Saudi Arabia's Public Investment Fund (PIF), lost that backing in April and entered bankruptcy protection in September. It had secured a potential $300m (£223m) financing from BC Partners Credit, but the new league was deemed unviable after recent withdrawals by high‑profile players such as Jon Rahm and Sergio Garcia. According to BBC Sport, the LIV 2.0 project had secured co‑investor commitments, enjoyed support within golf, and attracted about 30 players, including major winners, with a 2027 schedule that featured an event in Adelaide at Kooyonga Golf Club from 18‑21 March.

During the 13‑minute hearing, Williams explained that despite everyone's best efforts the required level of combined financial and player support could not be achieved, and that the wind‑down path was deemed the best option for stakeholders. PIF lawyer Scott Greissman told the court that the firm had only just learned of the decision and expressed respect for it, adding that they look forward to working with the committee and debtors toward an orderly wind‑down by year‑end. A BC Partners spokesperson said the transaction aimed to align player and investor interests but regretted that mutually acceptable terms could not be reached.

LIV Golf CEO Scott O'Neil described the venture as a once‑in‑a‑lifetime effort to attract younger, more diverse fans to golf. A disclosure statement and wind‑down plan are to be filed by 9 November.