LIV Golf Faces Potential Liquidation After BC Partners Withdraws $300 Million Funding Plan
LIV Golf is facing potential liquidation following reports that investment firm BC Partners has scrapped a plan to provide up to $300 million for a restructured version of the league, dubbed 'LIV 2.0.' The withdrawal comes after the breakaway circuit failed to secure sufficient player commitments for the revamped format, which would have transitioned players into majority owners. The league is currently in Chapter 11 bankruptcy protection following an announcement from Saudi Arabia’s Public Investment Fund (PIF) that it would cease funding after the 2026 season. High-profile departures, including Jon Rahm and Sergio Garcia, have further destabilized the organization's future. A critical U.S. bankruptcy court hearing is scheduled for Thursday to determine if the league will proceed toward asset liquidation.
Topics: BC Partners financing withdrawal Chapter 11 liquidation LIV Golf bankruptcy Sports business funding