LIV Golf’s attempted relaunch collapses after new lead investor withdraws, reports say

The once-promising LIV Golf tour, which aimed to relaunch following its bankruptcy filing, has now collapsed due to the withdrawal of key investor BC Partners, multiple news sources reported on Wednesday. The decision to withdraw came after the firm struggled to secure commitments from several top players for the revived league.

Reports from the Financial Times and the Athletic, citing anonymous sources, stated that the private capital firm terminated its involvement. LIV Golf, once backed by the Saudi Public Investment Fund with an estimated $5 billion, filed for bankruptcy protection in September. The league planned to relaunch as "LIV 2.0" with a shorter schedule and reduced prize money, promising equity stakes in the league for players.

BC Partners had pledged a potential $300 million as the new lead investor. However, former LIV stars, such as Jon Rahm and Bryson DeChambeau, announced their withdrawals, while others were reportedly undecided. The tour's efforts to relaunch faced further complications when DP World Tour, a competing entity, reversed its policy on dual participation, forcing players to choose between the two tours.

DP World Tour CEO Guy Kinnings emphasized his duty to protect the Tour from the perceived threat posed by LIV, which was allegedly seeking to destroy its rivals. Rory McIlroy, a prominent critic of LIV, supported Kinnings' stance, agreeing that the breakaway circuit intended to eradicate its competitors. LIV Golf's financial situation remains dire, with the league reportedly owing between $500 million and $1 billion in liabilities to over 1,000 creditors, including high-profile players.