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LIV Golf Secures Initial Investment as It Seeks Bankruptcy Exit
LIV Golf is trying to recover from bankruptcy and plan for its future.
BC Partners Credit has announced an initial investment as part of a larger financing goal of $300 million.
A bankruptcy court must approve the financing.
If it is approved, LIV can start planning a 10-tournament season for 2027.
The league says it wants players to have ownership in the league and its teams.
Saudi Arabia’s Public Investment Fund, which provided more than $5 billion, has withdrawn its funding.
Players now have a few weeks to decide whether to stay, but some say they do not yet know what will happen.
The PGA Tour has not said whether LIV players will have a quick route back.
BC Partners Credit announced an initial investment as part of a targeted $300 million in cumulative financing for LIV Golf.
The financing requires bankruptcy court approval and is intended to help LIV emerge from Chapter 11 and plan for a 2027 season.
LIV’s proposed 2027 schedule includes 10 tournaments, five at international sites.
The Public Investment Fund of Saudi Arabia has withdrawn funding after providing more than $5 billion since LIV launched in 2022.
Players have a few weeks to decide whether to remain with LIV, amid uncertainty over contracts, future funding and their options elsewhere.
- Who
- LIV Golf, BC Partners Credit and LIV players.
- What
- BC Partners Credit announced an initial investment toward targeted cumulative financing of $300 million to help LIV Golf emerge from bankruptcy.
- Where
- The bankruptcy proceedings are in court; LIV’s proposed 2027 schedule includes international tournament sites.
- When
- The announcement came Monday; LIV filed for bankruptcy on Sept. 8, and its proposed next season is in 2027.
- Why
- The financing is intended to support LIV’s emergence from Chapter 11 and help it plan a future season after the Public Investment Fund of Saudi Arabia withdrew its funding.
Investment and league plans
Player uncertainty
LIV’s future
Investment and league plans
BC Partners Credit and LIV leadership describe the investment as progress toward a sustainable, player-owned, team-focused league and a planned 2027 season.
Player uncertainty
Players face uncertainty after the Saudi fund withdrew its funding, and the investment remains subject to court approval.
Players’ next steps
Investment and league plans
BC Partners Credit says players can share in ownership and invites them to help build the league.
Player uncertainty
Adrian Meronk said players still face unknowns and must reconsider their options; Sergio Garcia has asked the court to clarify his contract status.
Return to the PGA Tour
Investment and league plans
LIV’s proposed financing and player-ownership model are intended to support the league’s next phase.
Player uncertainty
The PGA Tour has not indicated whether it will offer LIV players an immediate path back, as it did for Brooks Koepka at the start of the year.
Key facts
- Targeted cumulative financing
- $300 million
- Court approval
- The financing requires bankruptcy court approval.
- Proposed 2027 schedule
- 10 tournaments, including five at international sites.
- LIV bankruptcy filing
- Sept. 8
- Saudi fund support
- The Public Investment Fund of Saudi Arabia provided more than $5 billion since LIV launched in 2022, then withdrew its funding.
- Player ownership proposal
- The investment plan aims to give players ownership in the league and teams.
Quotes
Ted Goldthorpe
Partner and head of BC Partners Credit
“Our goal is to facilitate LIV Golf’s emergence from the restructuring process on sound financial footing and with renewed momentum heading into the 2027 season.”
livemint.com
“We believe deeply in the future of this league and in the opportunity to build something distinctive alongside our players.”
livemint.com
Adrian Meronk
LIV Golf player who won the Dunhill Links Championship
“It’s been a very strange year on LIV, obviously finding about Saudis backing off and finding new investors.”
livemint.com
Sources
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