LIV Golf is expected to pursue liquidation after BC Partners’ lending division withdrew from a plan to provide as much as $300 million to finance the league’s planned 2027 relaunch, the Financial Times reported Wednesday.
The investment firm backed away as a financing deadline neared and LIV had yet to secure enough players for contracts covering next season. LIV filed for Chapter 11 bankruptcy protection on September 8, following Saudi Arabia’s Public Investment Fund’s decision to end its financial support after the 2026 season.
The proposed revival, dubbed LIV Golf 2.0, would have retained the league’s team-based format while granting players ownership stakes and scheduling at least 10 tournaments. Roughly half of those events were expected to be held outside the United States.
BC Partners Credit, the firm’s lending arm, announced an initial commitment in October as part of the proposed financing package. The agreement was contingent on enough golfers joining the reworked league. Axios reported that at least 30 players had expressed interest, although representatives for some were still negotiating compensation as bankruptcy-case deadlines approached.
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Golfers also had to consider how signing with the relaunch might affect opportunities beyond LIV. According to the Associated Press, the DP World Tour told players who joined the proposed league that they would lose eligibility for membership. For European golfers, that would also eliminate a path to the Ryder Cup.
Several of LIV’s most prominent players had already departed. Jon Rahm reached a separation agreement with the league in October after his attorney told a bankruptcy court that Rahm would not participate in the proposed relaunch, Golf Channel reported. Sergio Garcia also left, according to Axios. Brooks Koepka returned to the PGA Tour in January through a program offering eligible former LIV members a route back.
Bryson DeChambeau, one of the most recognizable players remaining on LIV’s roster, had praised the proposed league’s business model, Reuters reported. His plans have not been announced.
The developments prompted jokes on X about LIV’s business model, along with renewed questions about whether its players could return to the PGA Tour.