LIV Golf winding down operations after financing deal falls apart

Nov 5 : LIV Golf, which shook up world golf in 2022, will liquidate after losing big-name players and the financing it needed to stay alive, the breakaway circuit said on Thursday.

Throughout the wind-down process, LIV Golf said it would remain open to, and continue to consider any offers from third parties that could get more value from its assets.

"In light of the current circumstances, we believe shifting toward an orderly wind-down is the most responsible path forward for the League at this time," Gene Davis and Jon Zinman of LIV Golf board’s special committee said in a press release.

The future of LIV Golf had been in question after the circuit lost financial support from Saudi Arabia's deep-pocketed Public Investment Fund beyond the now-completed 2026 season.

LIV Golf had secured $300 million of potential financing from BC Partners to allow the staging of tournaments in 2027 but the plan was scrapped after a number of notable players opted not to commit to the league.

“BC Partners Credit supported a transaction that aligned the interests of players and investors, offering a credible path toward building a sustainable future for LIV Golf," a BC Partners spokesperson said. 

"While there was great support for the league, we are disappointed that mutually acceptable terms could not be reached among the various stakeholders."

BITTER LEGAL BATTLES

Leading golfers, such as former world number one Jon Rahm, announced their departures from LIV Golf after it filed for bankruptcy protection in September. Rahm is planning to play on the Europe-based DP World Tour in 2027. The US-based PGA Tour has banned LIV Golf players for one year from their last appearance on the rebel circuit.

LIV Golf sent shockwaves through the sport when it