LIV to wind down after backers withdraw support
LIV Golf is set to announce on Thursday it will wind down after a financing firm retracted its support.
LIV Golf was launched in 2021 and faced significant challenges in its attempt to establish a new golf league. The investment firm BC Partners Credit, who were set to provide $300m in financing, withdrew their support after Saudi Arabia's Public Investment Fund pulled out in April. This led to LIV filing for bankruptcy protection in September.
Despite efforts to launch a revamped version called LIV 2.0, the league was unable to secure the necessary player agreements and timelines proved insurmountable. Major players such as Jon Rahm and Sergio Garcia had already departed, leaving the league without enough support to continue. An attorney for LIV is expected to declare the LIV 2.0 proposal unfeasible in a court hearing on Thursday.
The future remains uncertain for LIV Golf's star players as they navigate the aftermath of the league's winding down.
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- LIV to wind down after backers withdraw support sports.yahoo.com
- LIV Golf to wind down after backers withdraw support bbc.co.uk
