LIV Golf is set to end operations following the withdrawal of its primary potential backer, ending efforts to restructure the breakaway circuit after it struggled to secure necessary player commitments.
The league, established in 2021 before launching its inaugural season the following year, was seeking around $300m (£223m) in financing from BC Partners Credit. That funding target emerged after Saudi Arabia’s Public Investment Fund (PIF) pulled its financial backing in April, a move that prompted the competition to seek bankruptcy protection in September.
Organizers had envisioned continuing the venture through a redesigned model known as LIV 2.0. BC Partners ultimately decided against pursuing the deal after concluding the venture was no longer viable, leaving the league unable to meet a strict deadline to prove it had sufficient player support to compete in 2027. Dubbed LIV 2.0, but BC Partners is understood to have decided it is not viable to pursue a deal, the funding could have helped the competition move forward in a new form. The league had been facing a deadline to show it had enough player support to continue in 2027.
Although key figures including Jon Rahm and Sergio Garcia had previously departed, those working on the revamped circuit had secured co-investor commitments, felt backing within the broader golf community, and gained preliminary sign-offs from about 30 players, including major champions. However, tight timelines made finalizing the necessary agreements impossible, leading an attorney for LIV to formally confirm in a court hearing on Thursday that the LIV 2.0 proposal cannot proceed. While leading players such as Jon Rahm and Sergio Garcia had already walked away, Sport understands that those working on LIV 2.0 had received commitments from co-investors, felt support from within the golf ecosyste.
