LIV Golf calls it quits, to shutter league without financial support for 2.0 model — SkimNews
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- LIV Golf told U.S. Bankruptcy Court Judge Michael B. Kaplan that it could not secure the financial commitment and player support needed for LIV 2.0, and plans to file a new Chapter 11 plan Monday before winding down.
- BC Partners declined to invest $300 million in LIV 2.0 after failing to reach terms with other key stakeholders, ending its plan to replace the PIF as the league's primary financier.
- LIV Golf had attracted about 30 player commitments for the 2027 season, with another 10 considering returns, but BC Partners pulled out after negotiations with the golfers dragged on.
- Public Investment Fund announced in April that it would not finance LIV Golf beyond the current season after investing more than $5 billion in a circuit that began luring top players in 2022.
- LIV Golf voluntarily filed for Chapter 11 protection on Sept. 8 with between $100 million and $500 million in assets and $500 million to $1 billion in liabilities; its attorney said a wind-down was most likely to maximize creditor value.
- Jon Rahm declined to commit to LIV 2.0 and, along with Sergio Garcia and Tyrrell Hatton, plans to play on the DP World Tour next season.
- LIV Golf said it remains open to value-maximizing alternatives involving third parties during the wind-down, even as its current plan calls for shutting down the league.
Why it matters: BC Partners planned to replace the PIF as primary financier with a $300 million investment after the PIF had put in more than $5 billion. With about 30 players committed for 2027 and 10 others still considering, LIV lacked the combined support needed to preserve a reorganized league, leaving creditors with a wind-down.
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