LIV Golf to wind down after funding, player shortfall — SkimNews
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- LIV Golf confirmed it is transitioning to a 'value-maximising wind-down' after abandoning plans for a relaunch known as LIV 2.0 due to insufficient player and investor commitments.
- BC Partners Credit withdrew $300m in proposed financing on Wednesday after not enough players signed on, directly triggering the decision to wind down the league.
- Matt Williams, LIV Golf's lawyer, told a bankruptcy court that despite best efforts, the required level of combined financial and player support for LIV 2.0 could not be achieved within the timeline.
- Saudi Arabia's Public Investment Fund (PIF), the league’s original backer, withdrew funding in April and only learned of the wind-down decision hours before the court hearing, though it respects the outcome.
- Scott O'Neil, LIV Golf’s CEO, said the league aimed to bring younger and more diverse fans to golf and called the venture 'the round of a lifetime' in a farewell statement.
- High-profile players including Jon Rahm, Sergio Garcia, Ian Poulter, Tyrrell Hatton, and Graeme McDowell have exited the league, with Rahm reportedly still owed around $100m.
Why it matters: The collapse of LIV 2.0 ends Saudi Arabia’s $5bn attempt to reshape professional golf, leaving star players without contracts and unsecured creditors awaiting repayment. The wind-down by year-end shifts power back to traditional tours, which had barred LIV participants from events like the Ryder Cup.
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