LIV Golf faces wind-down after BC Partners withdraws rescue backing

LIV Golf is expected to wind down after BC Partners Credit withdrew support for a proposed relaunch, BBC Sport reported on Wednesday. The financing firm had been considering backing a restructured competition for 2027, but the report said insufficient player commitments and the timetable for completing agreements had prevented the rescue from moving forward.

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According to BBC Sport, organisers of the project, known as LIV 2.0, had secured around 30 players, including major winners, and commitments from co-investors. Jon Rahm and Sergio Garcia had already left. Despite those efforts, sources told the broadcaster that the necessary agreements could not be completed within the available time, with a deadline looming to demonstrate sufficient player support.

The proposed funding package had been outlined publicly a month earlier. In an October 5 announcement, BC Partners Credit said funds advised by its platform had made an initial committed investment as part of a targeted $300 million financing package. That announcement expressly made the financing conditional on bankruptcy court approval and other customary conditions; it did not say the entire sum had been delivered.

Player ownership was central to that plan. BC Partners Credit said competitors would hold equity in both the league and its teams, giving them a financial interest in the competition's future. The firm described its objective as helping LIV emerge from restructuring ahead of the 2027 season, while developing a team-based competition that could operate alongside existing professional tours.

LIV had announced its Chapter 11 proceedings in New Jersey on September 8, together with a restructuring support agreement with BC Partners Credit. In that statement, the league said the reorganised business was expected to be majority-owned by players. It also disclosed an agreement for Saudi Arabia's Public Investment Fund to provide $49.6 million in debtor-in-possession financing, subject to court approval, to support the restructuring process.

BBC Sport reported that PIF is expected to tell a court hearing on Thursday that the LIV 2.0 proposal is not viable. The anticipated wind-down therefore remains a reported next step, rather than a completed court outcome. The league's September announcement had envisaged emerging from Chapter 11 and beginning its new era in early 2027.