Report: LIV Golf facing shutdown after investor withdrawal
BC Partners has withdrawn its bid as financial backer for LIV 2.0, per multiple reports — which could spell doom for the bankrupt league. The post Report: LIV Golf facing shutdown after investor withdrawal appeared first on Golf .
The bid to relaunch the bankrupt LIV Golf tour as LIV 2.0 has collapsed following the decision by BC Partners to withdraw as a lead investor. The private capital firm had pledged an initial funding commitment of a potential US$300 million. According to the Financial Times and the Athletic, the firm decided to walk away after struggling to convince several star players to fully commit to the league.
LIV Golf formally filed for bankruptcy protection in September. Documents from the bankruptcy filings indicate the league owes an estimated US$500 million to US$1 billion to at least 1,000 creditors, including star players. While officials previously intended to relaunch next season with a shorter schedule and reduced prize money, the league is now expected to have its remaining assets liquidated.
The Saudi Arabia Public Investment Fund had invested an estimated US$5 billion into the tour since 2022 before pulling its support earlier this year.
Brief written by urgent.news from Golf.com, Free Malaysia Today — 2 reports on this story. Machine-written — may contain errors; check the original before relying on it.
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- LIV Golf relaunch collapses as key investor withdraws freemalaysiatoday.com
- Lifeline collapses for LIV Golf theage.com.au
- Lifeline collapses for LIV Golf smh.com.au
