LIV Golf confirmed Thursday in New Jersey Bankruptcy Court that it will wind down operations starting Monday, ending the league's attempt to revive itself after losing its original Saudi backer.
The decision follows BC Partners' withdrawal of its previously committed $300 million investment. The capital firm determined that only about 15 players had expressed interest in a proposed "LIV Golf 2.0," far fewer than the at least 30 commitments it expected for viability.
BC Partners stated it supported a transaction aligning player and investor interests but could not reach mutually acceptable terms among stakeholders. The firm commended LIV Golf's management and players who engaged constructively.
The Saudi Public Investment Fund (PIF) had invested approximately $7 billion to launch and operate LIV Golf for five seasons, including nine-figure player contracts. After PIF withdrew funding, the league canceled two tournaments and failed to pay vendors and some players, leading to a Chapter 11 bankruptcy filing in September.
Nearly all major LIV Golf players had already departed before the announcement, including Jon Rahm, Tyrrell Hatton, Sergio Garcia, Brooks Koepka, Bryson DeChambeau, Dustin Johnson, Cameron Smith, and Joaquin Niemann. The PGA Tour has been hesitant to create additional pathways for former LIV players to return, though some may regain playing status through traditional qualifying.
