BC Partners withdraws planned $300 million investment, raising doubts over LIV Golf's future
BC Partners has ended its plan to fund a new version of LIV Golf, and the league is expected to seek liquidation of its assets following a bankruptcy hearing.
BC Partners has abandoned a proposal to invest roughly $300 million in a revamped LIV Golf league slated for 2027, according to the Financial Times. The withdrawal leaves the venture, which previously relied on Saudi Arabia's Public Investment Fund, without a financial lifeline and likely heading toward liquidation of its remaining assets.
LIV Golf filed for Chapter 11 bankruptcy protection after the Public Investment Fund announced it would no longer support the league. The firm had hoped to launch "LIV 2.0" with private-equity backing, but BC Partners said the league no longer had enough players to sustain a viable competition.
Several high-profile golfers, including Jon Rahm, Tyrrell Hatton, Sergio Garcia and others, have already left or announced their departure from LIV Golf. Bryson DeChambeau remains the most prominent player still affiliated with the organization.
"The new version of the league made full financial sense and could exist forever," DeChambeau said on the "Figuring Out" podcast last month.
LIV Golf is scheduled for a bankruptcy hearing in New Jersey on Thursday, which could trigger the formal liquidation process. The outcome may affect the future options for players such as DeChambeau, who could seek to rejoin the DP World Tour or negotiate a return to the PGA Tour.
No representatives of LIV Golf or BC Partners have commented publicly on the development.