LIV Golf winding down operations after financing deal falls apart

LIV Golf, the breakaway golf circuit that shook up the sport in 2022, is winding down operations due to the loss of key players and financing, the company announced on Thursday. LIV Golf's board members, Gene Davis and Jon Zinman, stated in a press release that they believe shifting towards an orderly wind-down is the most responsible course of action at this time.

The future of LIV Golf had become uncertain after losing financial support from the Saudi Public Investment Fund (PIF) beyond the 2026 season. Although BC Partners had committed to providing US$300 million in potential financing for tournaments in 2027, the plan was abandoned when several top players decided not to commit to the league.

Notable players, including former world number one Jon Rahm, left LIV Golf after the company filed for bankruptcy protection in September. LIV Golf's suspension from the PGA Tour led to legal battles, with some golfers accusing the PGA Tour of using monopoly power to penalize independent contractors. Critics argued that LIV Golf served as a means for Saudi Arabia to improve its image and deflect attention from human rights concerns, which the Saudi government denies.

PGA Tour CEO Craig Dahlgren expressed disappointment, stating that the league's economic model was not viable. LIV Golf CEO Scott O'Neil acknowledged the circuit's impact, calling it "a round of a lifetime," but admitted that their approach was disruptive.