LIV Golf to wind down operations after funding deal collapses

LIV Golf confirms wind-down

LIV Golf has confirmed it plans to wind down operations and enter the liquidation phase instead of launching a new version of the league, because of a lack of financial support.

A lawyer representing the organisation announced the decision in a bankruptcy court hearing on Thursday in New Jersey.

"The debtors were ultimately unable to bring the key parties to a fully consensual arrangement that would have supported a financially viable LIV 2.0 league," Gibson Dunn partner Matthew Williams, one of LIV's attorneys, said.

"As a result, the debtors are not currently proceeding with the LIV 2.0 plan. Instead, the debtors are toggling to a value-maximising wind down of their business."

Funding and player departures

The Financial Times first reported that BC Partners Credit, who had been lined up as potential backers following the withdrawal of Saudi Arabia's Public Investment Fund in April, had pulled out of a deal worth more than $300m (£220m).

LIV Golf had filed for bankruptcy protection in September after PIF withdrew its backing in April.

Sergio Garcia, Ian Poulter, Tyrrell Hatton, Louis Oosthuizen and Lee Westwood had already confirmed their intentions not to continue with LIV Golf, prior to the confirmation that the circuit would not continue. Jon Rahm was among the initial high-profile departures.

In a statement, LIV Golf said: "Since April 2026, the league's leadership team, with the support of its independent directors and advisors, has run a disciplined and thorough process to identify the best, value-maximising path forward for the company and its stakeholders.

"Despite extensive discussions, the relevant parties were ultimately unable to reach a consensual resolution of certain outstanding terms of the transaction contemplated by the Restructuring Support Agreement (RSA). As a result, the RSA has been terminated, and the transaction is not expected to move forward at this time."

What happens next for players

The DP World Tour said in September that any player who signed with LIV 2.0 would be denied membership on its circuit.

Only a handful of players, including Brendan Steele and Cameron Tringale, had publicly stated their support for the new format.

LIV Golf chief executive Scott O'Neil said: "LIV Golf was fun, demanding, inspiring, at times challenging - but always rewarding. Building a global platform designed to bring new, younger, and more diverse fans to the sport of golf has been the round of a lifetime for all of us."

Why it matters

• LIV Golf is winding down operations and liquidating its assets after failing to secure funding for LIV 2.0.
• Saudi Arabia's Public Investment Fund withdrew funding in April, and BC Partners Credit pulled out of a more than $300m deal this week.
• High-profile players including Jon Rahm, Sergio Garcia and Tyrrell Hatton had already left the league.
• The DP World Tour is expected to receive an influx of former LIV players, while the PGA Tour maintains a one-year suspension from the date of a player's last event.

Sources

• skysports.com: LIV Golf bankruptcy hearing: League scraps plans to launch 'LIV 2.0' and 'winding down operations' after losing funding | Golf News | Sky Sports
• theguardian.com: DP World Tour ready to embrace rebels including DeChambeau after LIV Golf collapses | LIV Golf Series | The Guardian
• bbc.co.uk: LIV Golf: Breakaway league to wind down after potential financial backers withdraw support - BBC Sport

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