LIV Golf Is Shutting Down, Lawyers Confirm in Bankruptcy Hearing
Another hearing for the bankruptcy case is scheduled for Nov. 24.
LIV Golf announced it will be shutting down its operations and will not pursue a "LIV 2.0" league, according to its attorneys at a Chapter 11 bankruptcy hearing. Gibson Dunn partner Matthew Williams stated that the debtors were unable to reach a consensual agreement to support a financially viable second league iteration. BC Partners Credit, which had provided LIV with $300 million in post-bankruptcy financing, pulled out on Wednesday, leaving the league with no alternative beyond liquidating its assets.
The firm expressed disappointment in not being able to reach mutually acceptable terms among stakeholders but commended LIV Golf's management for their efforts and thanked players for their support. The next court hearing in the bankruptcy case is scheduled for November 24.
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