LIV Golf's major backer abandons LIV 2.0 plan amid insufficient player commitment
BC Partners Credit has withdrawn its $300 million pledge for a new LIV Golf series after failing to secure enough player participation, prompting the league to focus on liquidation of its assets.
LIV Golf's primary financial supporter, BC Partners Credit, has cancelled a proposed $300 million investment in a new "LIV 2.0" series after the league could not attract sufficient player commitment. The plan, which envisioned at least ten tournaments, team formats and equity stakes for players, was dependent on a larger roster of high-profile golfers. Only four players, including Brendan Steele and Cameron Tringale, publicly endorsed the initiative, and the league lacked the star power needed to sustain it.
Ted Goldthorpe, partner and head of BC Partners Credit, told a Sportico conference in September that the infrastructure built for LIV Golf could be run sustainably, but emphasized that the required player participation had not materialised.
The development comes as LIV Golf seeks liquidation of its assets in a U.S. Bankruptcy Court hearing originally scheduled to consider the release of Jon Rahm from his contract. The league also filed a change of address in the bankruptcy court, moving its registered office from New York to Claymont, Delaware.
The Public Investment Fund of Saudi Arabia, which launched LIV Golf in 2022, had previously funded the league with more than $5 billion and attracted several top golfers with nine-figure signing bonuses. However, the fund announced in April that it would cease financing LIV Golf after the 2026 season.
The European Tour’s recent decision to bar players who sign with LIV 2.0 from DP World Tour membership, effectively making them ineligible for the Ryder Cup, further limited the league’s ability to retain talent. Several prominent golfers, including Jon Rahm, Sergio Garcia, Louis Oosthuizen and Tyrrell Hatton, have already left the league, and younger players such as David Puig and Tom McKibbin have also departed.
LIV Golf officials have not responded to requests for comment.