LIV Signs Term Sheet With BC Partners' Goldthorpe
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- LIV Golf CEO Scott O'Neil said he 'wouldn't bet against' the league continuing despite no Public Investment Fund of Saudi Arabia funding beyond this season and 'work to do' to close a binding deal
- Ted Goldthorpe of BC Partners signed a term sheet as lead investor to fund LIV in 2027, addressed LIV players for the first time in Indianapolis on Tuesday, though the term sheet is non-binding and on a 'compressed' timeline
- LIV Golf's proposed 2027 format calls for 10 events — five international 'championships' and five U.S. 'signature' events — with smaller purses than in the past but new player equity and the ability to play on other tours
- The Asian Tour announced a July partnership with the PGA Tour and DP World Tour, ending its role as a LIV feeder tour, while the DP World Tour told LIV players conditional 2027 releases without fines are 'highly unlikely'
- LIV Golf faces multiple vendor lawsuits alleging unpaid services, has halved this week's individual prize purse and cancelled two on-site music concerts, with O'Neil noting the league was 'build it, then sell it' and declining to rule out bankruptcy
- Players like Tyrrell Hatton have already signed up for next week's DP World Tour event as contracts expire after Sunday's final round, with several LIV golfers reportedly entering DP World Tour qualifying school
Why it matters: O'Neil's pitch that LIV won't demand exclusivity — players can compete elsewhere if invited — collides directly with the DP World Tour's conflicting events rule, which could fine players who appear on both circuits. With purses already halved, vendor lawsuits outstanding, and bankruptcy on the table, the BC Partners term sheet is the lifeline, but until it binds, LIV's roster could bleed to the DP World Tour through Q-school before a single 2027 shot is struck.
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