LIV Golf relaunch collapses as key investor withdraws
New lead investor BC Partners decided to walk away after struggling to convince several star players to fully commit to the league.
The attempt to revive LIV Golf following its bankruptcy filing has failed due to the withdrawal of its new lead investor, BC Partners. The private capital firm decided to back out after failing to secure the commitment of several top players to the league for the upcoming season. LIV Golf, originally backed by the Saudi Public Investment Fund with an estimated $5 billion investment, had owed creditors between $500 million and $1 billion.
Despite plans to relaunch with a shorter schedule, reduced prize money, and equity stakes for players, the league struggled to retain star talent. Notable players like Jon Rahm, Bryson DeChambeau, and Dustin Johnson had announced their withdrawal from the new version of the tour. The rivalry between LIV Golf and the DP World Tour (European) intensified after the latter reversed its policy on allowing golfers to compete in both tours, forcing players to choose sides.
Rory McIlroy, a prominent critic of LIV Golf, supported the DP World Tour's stance, expressing his belief that LIV Golf aimed to eliminate its competitors.
Written by urgent.news from Free Malaysia Today's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
Also reported by 4 other outlets
- LIV Golf relaunch collapses as key investor withdraws freemalaysiatoday.com
- Report: LIV Golf facing shutdown after investor withdrawal golf.com
- Lifeline collapses for LIV Golf theage.com.au
- Lifeline collapses for LIV Golf smh.com.au
