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LIV Golf winding down operations after financing deal falls apart
LIV Golf said it would wind down and liquidate after losing the financing needed to continue, putting the future of the breakaway tour in doubt. The decision marks a major turn for a circuit that disrupted professional golf by recruiting prominent players with lucrative contracts and creating a rival to the PGA Tour.
Saudi Arabia’s Public Investment Fund had committed support only through the completed 2026 season. A proposed $300 million financing deal with BC Partners to stage tournaments in 2027 fell apart after players declined to commit, while former world number one Jon Rahm and other leading golfers left. LIV will consider third-party offers during the wind-down; a separate proposed $1.5 billion PIF investment in the PGA Tour was rejected, and the two sides’ 2023 plan to unify their commercial operations stalled.
In short
- LIV Golf plans an orderly wind-down and liquidation.
- A proposed $300 million deal for 2027 tournaments fell through.
- The league says it will consider offers for its assets.
Steelman: both sides, in good faith
The strongest fair case each way — we don't pick a winner.
The case for
A wind-down can be defended as a responsible response to the loss of reliable financing and player commitments: continuing without a viable plan could expose staff, players and partners to greater uncertainty. LIV’s disruption also showed that professional golf could offer players more choice and challenge an established tour, while the organisation says it will consider third-party offers during the transition.
The case against
Ending the tour risks removing a meaningful alternative for players and fans, and reducing competitive pressure on the established golf circuit. Supporters could argue that a longer effort to secure new backing or revive cooperation with the PGA Tour might preserve LIV’s investment in the sport and the opportunities it created, rather than liquidating after the proposed financing fell through.