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.
LIV Golf's attempt to relaunch its bankrupt tour has failed, according to multiple reports on Wednesday. The private capital firm BC Partners, which had previously invested, withdrew its support citing difficulties in securing commitments from star players. LIV had earmarked a potential US$300 million funding from BC Partners, but several high-profile golfers including Jon Rahm, Bryson DeChambeau, and Dustin Johnson had already announced their withdrawal from the new iteration of the league.
The Saudi-backed league, which had attracted several superstars away from the PGA Tour, owed an estimated US$500 million to $1 billion to over 1,000 creditors, including players like Rahm, DeChambeau, and Johnson. The DP World (European) Tour also reversed its policy allowing players to participate in both tours, further complicating LIV's attempts to relaunch.
Golf superstar Rory McIlroy backed the DP World Tour's decision, criticizing LIV for attempting to eliminate its rivals.
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