LIV Golf lands potential $300m investment

Dubai: LIV Golf has secured a potential $300 million investment from BC Partners Credit as the Saudi-backed golf league aims to begin its 2027 campaign. The company entered Chapter 11 bankruptcy proceedings in the US in September after Saudi Arabia withdrew its financial support, triggering a restructuring process. The exact funding amount needed for the 2027 season is still uncertain, as is the number of current players who will return.

LIV golfers collectively owe at least $45 million, and there is an option for competitors to leave the league. The proposed financing agreement provides LIV with more time to negotiate with players, with the deadline extended to October 25. Players are not required to commit to a new version of LIV, known as LIV 2.0, even if they are tied to the competition by multi-year contracts.

BC Partners Credit stated that its financing would fund the next stage of LIV Golf's development, with players set to receive ownership stakes in the competition and its individual teams. The deal requires approval from the bankruptcy court and is subject to standard conditions. LIV Golf CEO Scott O Neil expressed satisfaction, stating that the investment marks meaningful progress toward a player-owned, team-focused, global league.

The league's biggest names, such as Jon Rahm and Bryson DeChambeau, have received significant contracts and prize funds from the league since its launch in 2021. However, doubts have arisen regarding the league's long-term future, as the 2026 season was concluded early. Bankruptcy filings revealed details of the money LIV owes to its creditors, with the largest unsecured claims totaling slightly over $45 million.