LIV CEO Calls New PE Investor ‘White Knight’ Amid Saudi Split

LIV Golf CEO Scott O’Neil hailed the league's new private equity backer as a "white knight" while its Chapter 11 bankruptcy case proceeds in New Jersey and the financial split from the Saudi investment firm persists. Speaking at the Sportico Invest conference in London, O’Neil said, "We're moving from a Saudi-type business plan to a—'business' business plan."

BC Partners Credit head Ted Goldthorpe's firm is poised to provide $300 million in financing for LIV if it emerges from bankruptcy and continues operations. O’Neil praised BC Partners as a "white knight" in the company. On Monday, LIV and BC Partners signed an amended restructuring support agreement (RSA) that includes an initial $4 million loan to assist with the Chapter 11 process.

This is in addition to the $49.6 million in debtor-in-possession (DIP) financing the Saudi Public Investment Fund (PIF) has provided, which ceased after LIV's 2026 season. Goldthorpe noted a "massive disconnect between myth and fact" regarding public perceptions of LIV, like attendance and viewership numbers. The private equity firm believes LIV's post-bankruptcy team golf model could lead to a valuation of over $100 million per team.

LIV has never sold team stakes; head of team business operations Katie O’Reilly had previously stated the goal of building "13 billion-dollar franchises." Both O’Neil and Goldthorpe dismissed the idea of LIV competing with the PGA Tour, stating they are "complimentary" due to their global reach versus the U.S.-focused PGA. Goldthorpe added that he believes LIV's fan demographic is different from the PGA Tour's, noting the PGA's fans could be "attractive to the PGA of the future." The league's next bankruptcy hearing is scheduled for Wednesday in Trenton, New Jersey.