BC Partners abandons LIV Golf rescue as Saudi-backed league faces liquidation

BC Partners has dropped its plan to rescue the financially troubled LIV Golf league, which is set to face liquidation after the private equity firm could not gather enough player commitments for a proposed relaunch, according to a report by the Financial Times. The investment company had initially offered to invest up to $300 million in a new golf competition, tentatively called LIV 2.0, with a 17-tournament international circuit.

However, talks broke down when several star players refused to join and others were reluctant to sign agreements due to the constraints from the rival DP World Tour. BC Partners had already contributed $4 million in bankruptcy funding to aid the restructuring and was also eyeing around $5 billion in accumulated tax losses tied to LIV Golf, which could have fueled future sports-related investments.

The Public Investment Fund of Saudi Arabia, which holds a 99% stake in LIV Golf and has injected about $5 billion into the league since 2021, had already indicated plans to cease funding following the 2026 season. The bankruptcy proceedings are now anticipated to concentrate on addressing outstanding debts owed to creditors, such as players and suppliers, with the unsecured claims totaling hundreds of millions of dollars.