LIV Golf’s $7bn Saudi gamble faces collapse as rescue investor walks away
The development represents a significant setback for one of Saudi Arabia's most ambitious sporting investments
The LIV Golf league is facing the imminent collapse of its efforts to continue operation. LIV filed for Chapter 11 bankruptcy protection in September after its Saudi investors decided to withdraw funding after the 2026 season. The investment was contingent on the signing of at least 30 players, but disagreements over economic terms halted progress.
The league also lost several high-profile stars, including Jon Rahm and Sergio Garcia, which affected its commercial appeal. Despite these challenges, BC Partners, which had tentatively agreed to invest in LIV 2.0, has now withdrawn, citing unresolved economic issues. The league is now expected to enter a liquidation phase, with no immediate comment from LIV or BC Partners.
The Public Investment Fund, the Saudi sovereign wealth fund that invested over $5 billion in LIV, announced its withdrawal due to the league's financial demands not aligning with its current investment strategy. Critics of LIV have accused it of "sportswashing," a practice aimed at mitigating negative public perception through investment in sports.
Supporters, like former PGA superstar Phil Mickelson, argue that LIV could broaden the sport's global reach. The league's biggest star, Bryson DeChambeau, will be a key figure to watch as the situation unfolds.
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- LIV Golf collapse imminent axios.com
