LIV Golf 2.0 Inches Closer to Reality as Players Tentatively Commit
Around 15 golfers have reportedly committed to the new iteration of the league, with a deadline for official deals approaching.
LIV Golf may be on the verge of a revival, with approximately 15 players tentatively committing to the circuit's new iteration, LIV Golf 2.0. This development has provided enough encouragement for the private equity firm BC Partners, which is set to invest $300 million, to pursue an official deal in the coming days, according to a report by the Financial Times.
A Sunday deadline was set by BC Partners for player commitments to the new league. However, an extension is anticipated for these commitments. The identities of the players who have tentatively committed remain undisclosed.
A group of players, reportedly led by Dustin Johnson, is seeking a severance payout from the Saudi Public Investment Fund (PIF) and is linking their participation in LIV 2.0 to receiving these funds. The PIF has set an Oct. 30 deadline for a deal for LIV 2.0, after which it plans to begin winding down the league's operations.
To date, only Richard Bland, Cameron Tringale, Brendan Steele, and Ben Campbell have publicly stated their intention to join LIV 2.0. Conversely, prominent golfers such as Jon Rahm and Tyrrell Hatton have indicated they will not be participating in the LIV circuit.
BC Partners is aiming for commitments from 30 to 40 players to launch the new LIV, which is envisioned as a 17-event global team golf circuit. LIV CEO Scott O’Neil has been seeking new investors after the Saudi PIF withdrew its financial backing. The PIF reportedly invested $5.5 billion into the league since 2021.
The proposed structure for LIV 2.0 includes players owning a stake in the league. Player inquiries have focused on their potential governance rights, the league's revenue streams, and associated risks and rewards.
BC Partners is also reportedly exploring the potential of a $5 billion tax-loss asset that LIV accrued, which could facilitate future corporate acquisitions. The PIF currently serves as LIV's sole lender and oversees its ongoing bankruptcy proceedings.