LIV Golf to liquidate after failed funding for LIV 2.0

LIV Golf told a bankruptcy court in New Jersey that it will cease operations and move into liquidation, abandoning a planned "LIV 2.0" circuit because it could not secure new financing. The decision was announced by a lawyer for the league during the hearing on Thursday.

"The debtors were ultimately unable to bring the key parties to a fully consensual arrangement that would have supported a financially viable LIV 2.0 league," said Gibson Dunn partner Matthew Williams, representing LIV Golf.

"As a result, the debtors are not currently proceeding with the LIV 2.0 plan. Instead, the debtors are toggling to a value-maximising wind down of their business," he added.

The Financial Times reported that BC Partners Credit, which had been positioned as a potential backer after Saudi Arabia's Public Investment Fund withdrew its support in April, pulled out of a deal valued at more than $300 million (£220 million). Without that funding, LIV Golf filed for Chapter 11 bankruptcy after the 2026 season, effectively cancelling player contracts.

High-profile players such as Jon Rahm, Sergio Garcia, Tyrrell Hatton, Ian Poulter, Louis Oosthuizen and Lee Westwood had already announced they would not continue with the league. The DP World Tour previously warned that any player signing with a revived LIV league would be denied membership, and its chief executive and other officials have accused LIV Golf of attempting to undermine the European Tour.

LIV Golf issued a statement saying the league’s leadership had conducted a disciplined process to find a value-maximising path for the company, but the parties could not reach a consensual resolution of the terms of the Restructuring Support Agreement, leading to its termination.

The league’s chief executive, Scott O'Neil, reflected on the venture, describing it as "fun, demanding, inspiring, at times challenging – but always rewarding" and expressing hope that the platform will inspire a new generation of golf fans.

With the league winding down, former LIV players face varied options. The PGA Tour requires a one-year suspension before former LIV participants can return, while the DP World Tour remains a likely destination for many, provided they meet eligibility criteria. Some players may receive tournament invitations, but access to premier events appears limited.