White Knight Capital Corp. Announces Advanced Restructuring Talks with PIF for LIV Golf
White Knight Capital Corp., a Wyoming-based investment firm, has announced advanced negotiations with the Public Investment Fund (PIF) of Saudi Arabia regarding a comprehensive restructuring plan for LIV Golf Enterprises. The proposed deal includes converting PIF's existing debt into equity and launching 'LIV Golf 2.0' ahead of the 2027 season under current CEO Scott O’Neil. The reorganization plans to involve White Knight taking over PIF’s rights, followed by a reverse merger with a Nasdaq-listed entity. The new public company aims to issue equity shares to LIV Golf professionals and institutional investors while offering updated contracts that include equity participation for existing golfers. An additional $100 million in direct investment from PIF is requested as part of the transaction. White Knight has also secured a potential $500 million equity facility through a major Wall Street bank, pending merger completion. The firm aims to expand LIV Golf’s global presence by securing broadcast deals and sponsorship networks while launching branded consumer products.
Topics: debt-to-equity conversion M&A sports business restructuring