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LIV Golf faces potential liquidation as BC Partners Credit withdraws $300M bid

LIV Golf's main investor is reportedly scrapping plans for a player-owned relaunch known as LIV 2.0 due to insufficient player support, according to The Financial Times.

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Illustration for: LIV Golf faces potential liquidation as BC Partners Credit withdraws $300M bid

In brief

  • BC Partners Credit is reportedly withdrawing a $300 million funding pledge for the proposed 'LIV 2.0' relaunch.
  • The Financial Times reports that LIV Golf may now seek liquidation of its assets in U.S. Bankruptcy Court.
  • The league's primary funder, the Public Investment Fund of Saudi Arabia, ended its support for the league after the 2026 season.
  • LIV 2.0 failed to secure enough star player commitments to proceed with the restructuring.

LIV Golf faces potential liquidation as BC Partners Credit withdraws $300M bid

LIV Golf's main investor is reportedly scrapping plans for a new version of the league because it lacked enough player support, according to a report by The Financial Times on Wednesday.

Potential Liquidation and LIV 2.0

BC Partners Credit had pledged as much as $300 million for a proposed relaunch called "LIV 2.0." This new version was intended to feature at least 10 tournaments, an emphasis on teams, and player equity. LIV CEO Scott O'Neil had described the proposed equity as a "second bite of the apple."

While LIV Golf officials did not immediately respond to requests for comment, The Financial Times reported that a scheduled hearing in U.S. Bankruptcy Court in New Jersey may shift toward LIV Golf seeking the liquidation of its assets. The league filed for Chapter 11 bankruptcy protection on Sept. 8.

Player Support and Departures

According to reports, the funding for LIV 2.0 was contingent on securing a group of "requisite players." While LIV was believed to have as many as 30 players willing to stay, the league reportedly lacked the necessary "star power." Only four players, including Brendan Steele and Cameron Tringale, have publicly stated their support for the new version.

Several high-profile players have departed or indicated they will not join the new iteration, including:

  • Jon Rahm
  • Sergio Garcia
  • Louis Oosthuizen
  • Tyrrell Hatton

Additionally, the league has lost young players such as David Puig and Tom McKibbin. Brooks Koepka also exited his LIV deal with one year remaining.

Financial Background

LIV Golf was launched in 2022 with financial backing from Saudi Arabia's Public Investment Fund (PIF), which reportedly spent more than $5 billion on the league. The PIF changed its investment strategy in April and stated it would no longer pay for LIV Golf after the 2026 season.

In July, the European tour issued an ultimatum stating that anyone who signed with LIV 2.0 would not be permitted to hold membership in the DP World Tour, which would make those players ineligible for the Ryder Cup. Guy Kinnings, the European tour CEO, told The Scotsman, "But we also have to protect the tour against an entity who spent, so we are told, over $7 billion, with one of their aims being to ‘destroy the DP World Tour.'"

Sources

This article was drafted with AI assistance and checked against the sources above. Company claims are reported as claims. Cover image is AI-generated.

Questions readers ask

Why is LIV Golf facing potential liquidation?
BC Partners Credit is scrapping plans for a new version of the league called LIV 2.0 because it lacked enough player support. The league filed for Chapter 11 bankruptcy protection on Sept. 8, and a scheduled hearing in U.S. Bankruptcy Court in New Jersey may shift toward seeking the liquidation of its assets.
Which high-profile players have departed or will not join LIV 2.0?
Departing or non-participating players include Jon Rahm, Sergio Garcia, Louis Oosthuizen, Tyrrell Hatton, David Puig, Tom McKibbin, and Brooks Koepka. Only four players, including Brendan Steele and Cameron Tringale, have publicly stated their support for the new version.
What is the financial background of LIV Golf?
LIV Golf was launched in 2022 with financial backing from Saudi Arabia's Public Investment Fund (PIF), which reportedly spent more than $5 billion on the league. The PIF changed its investment strategy in April and stated it would no longer pay for LIV Golf after the 2026 season.
What ultimatum did the European tour issue regarding LIV 2.0?
In July, the European tour stated that anyone who signed with LIV 2.0 would not be permitted to hold membership in the DP World Tour, making them ineligible for the Ryder Cup. Guy Kinnings, the European tour CEO, told The Scotsman that they must protect the tour against an entity that spent over $7 billion.

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