LIV Golf moves to liquidate as rescue deal collapses

LIV Golf has moved toward liquidation after the collapse of a rescue agreement with BC Partners, abandoning plans for a revived circuit next season, The Guardian reported on Thursday. Lawyers outlined the change at a bankruptcy hearing in New Jersey, leaving players who had intended to remain with the competition facing uncertainty over where they will compete next.

Watch the highlights:

During the 13-minute hearing, lawyer Matthew Williams told the court that the proposed LIV 2.0 operation was no longer being pursued and that the business would instead be wound down. The development followed Saudi Arabia’s Public Investment Fund’s decision to stop funding the league from next season. According to The Guardian, PIF had invested more than $7bn over five years.

LIV subsequently confirmed that its restructuring support agreement had been terminated because the parties could not resolve outstanding terms. BC Partners, whose financing had been announced a month earlier, also said mutually acceptable terms had not been reached. The Guardian reported that the proposed revival had $300m in funding but failed to secure enough players for a planned schedule of 17 tournaments.

The consequences differ for individual golfers. Bryson DeChambeau, who had been expected to join the revived competition, cannot immediately return to the PGA Tour under its rule barring LIV players for 12 months after their final appearance on that circuit. The Guardian reported no indication that the PGA Tour intended to relax that restriction following the collapse.

DeChambeau does have a potential route onto the DP World Tour through his status as a major champion, with a membership application deadline of 16 November. According to the report, 2027 is his final available season under that option. Cameron Smith and Dustin Johnson no longer have that route, but could receive invitations to selected events. Those invitations would not cover premier tournaments such as the PGA Championship at Wentworth or the Scottish Open.

Around 15 LIV players, including Jon Rahm and Tyrrell Hatton, still hold DP World Tour membership, The Guardian reported. Others could seek membership by winning an event entered through an invitation, while Sergio García’s career earnings give him a route to reapply. Those alternatives leave several possible paths back into established competition, but the report did not confirm new destinations for all the players affected.