LIV Golf is reportedly pivoting to a wind-down after its planned funding partner, BC Partners, withdrew from a deal to finance "LIV 2.0." The withdrawal stems from a perceived lack of player interest and commitment to the new structure, according to reports.
A bankruptcy court hearing scheduled for Thursday in New Jersey is expected to initiate the liquidation process for the controversial golf league. LIV Golf had previously filed for Chapter 11 bankruptcy in September and is said to owe millions in unpaid compensation to several prominent players, including Jon Rahm, Bryson DeChambeau, Dustin Johnson, and Cam Smith.
Many top golfers, including Jon Rahm, have publicly expressed dissatisfaction with the terms of the proposed "LIV 2.0" restructuring, with Rahm stating they were unacceptable and that he would not participate. This sentiment has been echoed by other players such as Tyrrell Hatton, Louis Oosthuizen, and Sergio Garcia, who have also indicated they will not be involved in the new iteration.
The league has already laid off most of its operational staff and faces lawsuits from entities like the Premier Golf League, which alleges breach of confidence and conspiracy. Event contractors are also reportedly awaiting payments.
LIV Golf's future appeared uncertain in April when its primary funder, the Public Investment Fund (PIF) of Saudi Arabia, halted its financial support. The PIF cited a decision to redirect funds toward domestic projects and manage financial pressures related to regional conflicts. Following this decision, PIF governor Yasir Al-Rumayyan resigned from LIV's board.
The league's original calendar faced disruptions, including the cancellation of its championship weekend, which was moved to an earlier date. Numerous European-based golfers have departed LIV to rejoin the DP World Tour, formerly the European Tour, which had stated it would not permit LIV players to compete on its circuit. Membership on the DP World Tour is also a prerequisite for competing in the Ryder Cup.