Prospective financier BC Partners Credit pulled its proposed $300 million funding package after determining the revamped LIV 2.0 concept could not attract a viable roster. The league had been operating under bankruptcy protection since September following the withdrawal of financial backing from Saudi Arabia's Public Investment Fund in April. While organizers managed to sign roughly 30 players, marquee departures like Jon Rahm and Sergio Garcia left the roster short ahead of critical operational deadlines. The venture will now wind down after failing to secure a functional business model to present in bankruptcy court.
Key points
The inability to finalize adequate player commitments effectively ended plans to continue…: The inability to finalize adequate player commitments effectively ended plans to continue the golf league into 2027.
Saudi Arabia's Public Investment Fund is slated to formally tell a court on Thursday that…: Saudi Arabia's Public Investment Fund is slated to formally tell a court on Thursday that the proposed restructuring is unviable.
Player uncertainty mounted ahead of the collapse, with longtime participant Lee Westwood…: Player uncertainty mounted ahead of the collapse, with longtime participant Lee Westwood stating no agreeable format terms had been presented.
Sources checked by our analysis pipeline: 1
LIV to wind down after backers withdraw support
- Published
LIV Golf is set to be wound down after its investor withdrew its support because the proposed new league failed to attract enough players.
LIV had hoped BC Partners Credit would provide a possible $300m (£223m) in financing after Saudi Arabia's Public Investment Fund (PIF) withdrew its backing in April, leading to the league filing for bankruptcy protection in September.
The funding could have helped the competition move forward in a new form, dubbed LIV 2.0, but BC Partners is understood to have decided it is not viable to pursue a deal.
While leading players such as Jon Rahm and Sergio Garcia had already walked away, BBC Sport understands that those working on LIV 2.0 had received commitments from co-investors, felt support from within the golf ecosystem and had around 30 players signed up, including major winners.
But sources say the timelines ultimately proved insurmountable and they could not get the agreements they needed to move forward.
The league had been facing a deadline to show it had enough player…
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