Driving the news: BC Partners – which had provisionally agreed to invest in a “LIV 2.0” league – is withdrawing, a source close to the matter confirmed on Wednesday.
- The investment still relied on an unspecified number of players signing up — and at least 30 of them ultimately expressed interest in doing so, the person said. But economic conditions remain a sticking point for some of their representatives.
- But the league couldn’t get enough support in time to meet deadlines set in the bankruptcy case.
- LIV had also lost several stars in recent weeks, including Jon Rahm and Sergio Garcia, jeopardizing its commercial appeal.
What’s next: Those involved in the deal expect LIV to move toward liquidation.
- Spokespeople for LIV and BC Partners were not immediately available for comment.
Catch up quickly: The Public Investment Fund – Saudi Arabia’s sovereign wealth fund – confirmed in April that it was withdrawing support for the league after the 2026 season.
- The PIF — which ultimately invested more than $5 billion in LIV, according to Money in Sport — decided to abandon LIV after President Trump’s war in Iran muddled geopolitics in the Middle East and sent energy prices reeling.
- The fund said in a statement that “the substantial investment required by LIV Golf over the long term is no longer consistent with the current phase of the PIF’s investment strategy.”
Point of friction: Critics of LIV and the players who joined it said the league amounted to “sportwashing” as the Saudis sought to distract from allegations of human rights abuses.
- Advocates – including LIV member and former PGA superstar Phil Mickelson – said the league would help grow the game globally.
What to watch: What the league’s biggest star, Bryson DeChambeau, will do next.
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