LIV Golf is facing a potential liquidation crisis after losing key investors due to the cessation of financial support from Saudi Arabia's Public Investment Fund (PIF).
According to major international media outlets, including the Financial Times and The Athletic, British private equity firm BC Partners has withdrawn its plan to invest up to $300 million (approximately 400 billion won) for the relaunch of 'LIV Golf 2.0.'
The Athletic reported, "BC Partners' withdrawal has effectively determined LIV Golf's fate." A source told the outlet, "It’s essentially time running out for them."
A significant factor in the collapse of LIV Golf's revival plan has been the mass exodus of star players. BC Partners had set the retention of prominent players as a condition for investment, expecting at least 30 players to remain or join. However, the situation shifted dramatically when the DP World Tour announced it would prohibit LIV Golf players from competing starting in 2027.
Key players such as Jon Rahm and Sergio Garcia (both from Spain) have left LIV Golf, and Louis Oosthuizen (South Africa) is also in the process of parting ways. Reports indicate that only around 15 players remain or are joining, casting doubt on the viability of revenue models such as broadcasting rights and sponsorships. Consequently, BC Partners decided to abandon its investment.
The crisis for LIV Golf began with PIF's decision to halt its support. In an official statement released in April, PIF stated, "The substantial investment required for LIV Golf no longer aligns with PIF's investment strategy," adding that the decision was made after considering investment priorities.
Since the withdrawal of PIF's support, LIV Golf has been seeking new investors and filed for bankruptcy protection in a New Jersey court in September.
With the investment now nullified, the prospects for LIV Golf's 2027 season remain uncertain. Reuters reported that LIV Golf intends to continue operations and plans to attend a hearing in Trenton, New Jersey, on November 5.
The Financial Times anticipates that the hearing, originally set to address Jon Rahm's contract termination, will shift to discussions regarding the liquidation of LIV Golf's assets.
* This article has been translated by AI.
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