LIV Golf is on the brink of liquidation after private capital firm BC Partners withdrew its committed $300 million investment, leaving the Saudi-backed league without a financial lifeline just days before a key bankruptcy court hearing.
The decision comes six months after Saudi Arabia's Public Investment Fund (PIF) ended its approximately $7 billion backing that had funded the league's launch, player contracts, and five seasons of operation. With the PIF's departure, LIV Golf canceled two tournaments, missed payments to vendors and players, and filed for Chapter 11 bankruptcy protection in September.
BC Partners had expected at least twice as many player commitments for a proposed "LIV Golf 2.0" but found only about 15 players expressing interest, according to reports from The Athletic and the Financial Times. The firm concluded the project lacked enough notable names to remain viable.
Nearly all of LIV Golf's star players have since departed. Jon Rahm reached a separation agreement, while Tyrrell Hatton and Sergio Garcia also left. Brooks Koepka accepted penalties to return to the PGA Tour ahead of the 2026 season, and Bryson DeChambeau had indicated he would stay with the revamped league. The contract status of Dustin Johnson, Cameron Smith, and Joaquin Niemann remains unclear.
Creditors, including representatives for Rahm, are scheduled to appear at a hearing in New Jersey on Thursday. With funding now evaporated, the league may choose to liquidate its assets and cease operations entirely. The PGA Tour has been reluctant to create special pathways for former LIV players to return, though some could regain playing privileges through traditional qualifying.
