LIV Golf winds down after BC Partners Credit exits — SkimNews
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- LIV Golf is set to be wound down after its investor withdrew support because the proposed LIV 2.0 league failed to attract enough players, with an attorney acting for LIV expected to tell a court on Thursday that the proposal is not viable.
- BC Partners Credit had been lined up to provide a possible $300m (£223m) in financing for LIV 2.0, but the prospective funder decided it was not viable to pursue a deal.
- PIF withdrew its backing in April, leading LIV to file for bankruptcy protection in September; the Saudi wealth fund had spent more than $5bn (£3.7bn) since the league launched in 2021.
- LIV 2.0 backers had commitments from co-investors, support from within the golf ecosystem and about 30 players signed up including major winners, but the timelines proved insurmountable and the agreements needed to move forward never came — with the deadline to confirm 2027 players passing last Sunday.
- Jon Rahm and Sergio Garcia had already walked away, alongside Ian Poulter, Tyrrell Hatton and Graeme McDowell; Rahm was reported to be owed about $100m (£75m) from the remainder of his contract.
- Peter Malinauskas said he does not expect LIV's already-announced Adelaide event, 18–21 March at Kooyonga Golf Club, to go ahead — "it's game, set and match as far as I can tell."
- DP World Tour said those signing for LIV in 2027 would not be allowed European Tour membership or Ryder Cup selection; Lee Westwood said nothing presented to him about LIV 2.0 was "agreeable," while Bryson DeChambeau said he hopes the league "exists forever."
Why it matters: The DP World Tour had already barred anyone joining LIV in 2027 from European Tour membership and Ryder Cup selection, leaving the league with no competitive offer — the gap Lee Westwood said left nothing "agreeable" about LIV 2.0. The PIF exits after spending more than $5bn (£3.7bn); Rahm was reported to be owed about $100m (£75m).
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