LIV Golf to shut down after failed 2.0 relaunch — SkimNews
Get the Sports newsletter
Daily sports — scores, transfers, the storylines from the leagues you actually follow. Free.
- LIV Golf has decided to wind down operations after failing to secure the combined financial and player support needed for its LIV 2.0 model, despite five years of competition and over $5 billion in investment.
- BC Partners declined to invest $300 million in LIV 2.0 after failing to reach mutually acceptable terms with key stakeholders, including top players, halting the primary financing path for the relaunch.
- LIV Golf's attorney Matthew Williams told a U.S. Bankruptcy Court judge the company will file a new Chapter 11 plan to maximize value during a wind-down, citing insufficient support to sustain the reorganized league.
- Saudi Arabia's Public Investment Fund (PIF) announced in April it would not finance LIV Golf beyond 2024, ending its role as the league’s primary backer after investing more than $5 billion since 2022.
- Top LIV Golf players including Jon Rahm, Sergio Garcia, and Tyrrell Hatton did not commit to the 2.0 model and plan to return to the DP World Tour, weakening the league’s talent foundation.
- LIV Golf CEO Scott O'Neil stated the league succeeded in building a global platform, attracting elite talent and sponsors, and earning Official World Golf Ranking points before the shutdown decision.
Why it matters: The collapse of LIV Golf ends a $5 billion attempt to disrupt professional golf, leaving creditors, players, and sponsors without a clear path forward. With BC Partners and top players walking away, the failure to align financial and athletic commitments makes a revival unlikely under current terms.
Ask SkimNews
