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LIV Golf Shutting Down After Last-Ditch Financing Plan Fails
LIV Golf is moving to a full liquidation after a proposed rescue financing deal fell through, ending its attempt to become a lasting rival to the PGA Tour. The collapse matters because the league’s Saudi-backed investment had reshaped golf’s competition and pushed the PGA to reconsider prize money and its relationship with players.
BC Partners Credit withdrew a promised $300 million for a proposed “LIV 2.0”, citing difficulty recruiting players after Saudi Arabia’s Public Investment Fund pulled its support. Executives told a New Jersey bankruptcy court on Thursday they would pursue liquidation instead; low tournament ratings and uncertainty over the futures of players including Jon Rahm and Bryson DeChambeau added to the league’s challenges. Founded around three-day, 54-hole events, LIV also sought to distinguish itself with team formats, music and relaxed dress rules.
In short
- LIV Golf will liquidate after its rescue financing fell through.
- BC Partners Credit withdrew a promised $300 million.
- The league’s format and spending pressured the PGA Tour to adapt.
Steelman: both sides, in good faith
The strongest fair case each way — we don't pick a winner.
The case for
Supporters of liquidation can argue that, without the Saudi fund’s backing or a credible replacement, continued rescue efforts would risk putting more money into a league unable to attract players or audiences at the scale needed to endure. An orderly wind-down could limit further losses and let players, staff and creditors make plans amid prolonged uncertainty.
The case against
Those who would oppose liquidation can argue that LIV’s format and investment introduced meaningful competition, expanded player choice and helped prompt the PGA Tour to reconsider pay and player relations. They may see a further rescue attempt as worthwhile if it could preserve the teams and provide a viable alternative for players and fans, rather than allowing the rival league to disappear.
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