⛳ Is this really the end of LIV, and what's next for some the world's best golfers? — SkimNews
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- LIV Golf told a U.S. Bankruptcy Court judge Thursday it will not move forward with LIV 2.0 and will shutter the tour, after BC Partners Credit withdrew a $300 million financing offer when negotiations with top golfers broke down.
- U.S. Bankruptcy Court of New Jersey will receive LIV Golf's new Chapter 11 plan Monday, with the tour's lawyer targeting a liquidation plan by Nov. 9 and the next hearing set for Nov. 24 — though LIV's statement says it remains open to third-party alternatives during the wind-down.
- Public Investment Fund ranks first for repayment on its nearly $500 million June loan, leaving players and other unsecured creditors second-to-last, ahead of shareholders only; a creditor committee that includes the players is seeking a "consensual resolution" with the PIF, but analysts said players are unlikely to be paid.
- LIV Golf's $5 billion in net operating losses become worthless in liquidation, because bankruptcy experts said the tax asset only offsets future profits and is not cash.
- PGA Tour requires former LIV golfers to have been away at least two years and to have won the Players Championship or a major since 2022; Patrick Reed's route — two wins in the Middle East, a nonmember return Aug. 25, one of 10 cards for 2027 — puts Aug. 24, 2027 as the earliest date Rahm, Smith and others can rejoin.
- Brooks Koepka was the only one of four invited players (with DeChambeau, Rahm and Smith) to accept the PGA Tour's one-time return offer, donating $5 million to charity and forfeiting equity and bonuses; commissioner Brian Rolapp has repeatedly said the deal won't be repeated, and Rahm acknowledged he probably won't get the same offer.
- DP World Tour status became the immediate bridge for Rahm, Sergio Garcia and Tyrrell Hatton, who paid their fines, were granted 2026 releases and publicly committed to the DPWT in 2027 — with that status offering a route to one of 10 PGA Tour cards, though the tour hasn't said what discipline applies.
Why it matters: With LIV's $300 million rescue gone and the PIF holding a nearly $500 million priority loan claim, players owed hundreds of millions sit second-to-last in the bankruptcy queue, while the PGA Tour controls the return with Koepka's one-time $5 million charity deal as precedent and Aug. 24, 2027 as the earliest date.
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