LIV Golf’s future is looking increasingly uncertain. BC Partners, a London-based private equity firm, has reportedly dropped plans to finance a proposed relaunch known as “LIV 2.0,” citing limited interest and commitment from players.
The league’s financial troubles deepened in April, when Saudi Arabia’s Public Investment Fund stopped providing support to redirect money toward projects at home and address financial pressures linked to the regional conflict with Iran. PIF governor Yasir Al-Rumayyan later left LIV’s board.
LIV filed for Chapter 11 bankruptcy in New Jersey in September. The league is estimated to have spent between $5 billion and $8 billion from 2021 to 2026. Court filings also show millions of dollars in unpaid compensation owed to leading players, including Jon Rahm, Bryson DeChambeau, Dustin Johnson and Cam Smith.
A restructuring plan called “LIV 2.0” had been seen as central to the league’s survival. But Rahm has called its terms unacceptable and said he will not take part. Tyrrell Hatton, Louis Oosthuizen and Sergio Garcia are among the players who have also declined.
With BC Partners no longer convinced LIV can operate as a viable league, the organization is reportedly preparing to wind down. A hearing scheduled for Thursday in New Jersey bankruptcy court is expected to begin the liquidation process.
LIV has laid off much of its operational staff, while some event contractors are still waiting to be paid. The league is also facing a lawsuit from the Premier Golf League, which alleges breach of confidence and conspiracy.
After the PIF funding ended, LIV CEO Scott O’Neil said the league’s schedule would remain unchanged. That didn’t happen: the planned championship weekend was canceled, and the event was moved a week earlier.
Several Europe-based players have been leaving LIV for the DP World Tour, previously known as the European Tour. The tour had said it would not allow LIV players to compete, and European golfers must be DP World Tour members to qualify for the Ryder Cup.
Brooks Koepka was the first major name to leave last year, returning to the PGA Tour. Patrick Reed followed. The latest departures, involving players and now two financial backers, mark a much larger break from LIV than the earlier exits.
