LIV Golf rescue plan falters as BC Partners abandons investment, FT reports
Nov 4 (Reuters) - BC Partners, which provides financing to middle-market companies, is dropping its bid to relaunch LIV Golf due to an inability to secure enough player commitments, the Financial Times reported on Wednesday.
BC Partners, a leading financier of middle-market companies, has abandoned its plan to revive LIV Golf due to a lack of player commitments, according to the Financial Times. The private equity firm was unable to secure the necessary player backing to hold a tournament series in 2027, a requirement looming as the bankruptcy deadline approached.
LIV Golf, a competitor to the PGA Tour, had already filed for bankruptcy protection in New Jersey in September, following Saudi Arabia's Public Investment Fund's decision to withdraw its financial support after the 2026 season. The private equity firm's decision came as LIV Golf prepared to wind down operations, with high-profile golfers like Jon Rahm already leaving the league.
The league's ultimate fate will be discussed at a Thursday hearing in US bankruptcy court in Trenton, New Jersey. Despite initial investments and lucrative contracts offered by LIV Golf, several top players, including Phil Mickelson, Bryson DeChambeau, Brooks Koepka, and Dustin Johnson, opted not to commit, contributing to BC Partners' withdrawal.
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