Financial backing falters for LIV Golf’s planned overhaul
BC Partners is reportedly withdrawing its financial support for LIV Golf’s planned restructuring, according to a report in the Financial Times. The private equity firm, which had pledged up to $300 million in financing, cited a lack of commitments from enough players as the reason for the decision.
LIV Golf filed for bankruptcy protection in New Jersey last September after the Public Investment Fund (PIF) of Saudi Arabia announced it would end its financial backing for the league after 2026, having invested over $5 billion since its inception in 2022. The league maintains it intends to continue operations during the reorganization process.
The Financial Times reported that BC Partners’s move came as a deadline approached to demonstrate sufficient player support for a tournament series in 2027. Neither LIV Golf nor BC Partners responded to requests for comment from Reuters.
The league has faced challenges since its bankruptcy filing, including the departure of prominent golfers like Jon Rahm.
A court hearing is scheduled for Thursday in Trenton, New Jersey, where discussions are expected to cover contracts, leases, and assets. LIV’s future may also be addressed.
LIV Golf initially attracted high-profile players from the PGA Tour, such as Phil Mickelson, Bryson DeChambeau, Brooks Koepka, and Dustin Johnson, through lucrative contracts. DeChambeau recently expressed optimism about the league’s proposed business model, hoping for its long-term success.
The league’s actions have drawn criticism, with DP World Tour chief executive Guy Kinnings accusing LIV of undermining the European circuit. Rory McIlroy described LIV’s approach as creating an
Source
“LIV Golf reboot in doubt after reports BC Partners pulls out financial support”
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