LIV Golf to Liquidate After Rescue Financing Collapses
LIV Golf, the breakaway circuit that launched in June 2022 with guaranteed paydays for its players, will liquidate. The league announced on 5 November 2026 that it will wind down in an orderly way, which means closing its operations in a managed sequence and selling off what it owns.
The move follows the collapse of a rescue plan. The Guardian reported that LIV had lined up up to $300 million of financing from BC Partners to stage tournaments in 2027, but scrapped the plan after notable players chose not to commit to the league. The money came from BC Partners Credit, and it was meant to help LIV leave Chapter 11, the US bankruptcy process that lets a company reorganise its debts under court supervision. The deal was subject to bankruptcy court approval, and LIV had hoped to exit Chapter 11 in early 2027. Golf Channel reported that BC Partners has now pulled that funding.
LIV's main backer has also stepped back. The Saudi Arabia Public Investment Fund said in late April that it had invested more than $5 billion in the league, that LIV no longer fitted its investment strategy, and that it would stop funding after the 2026 season. The fund will not support LIV beyond that point.
Players had been leaving before the latest news. LIV filed for bankruptcy protection in September, and former world No. 1 Jon Rahm was among the leading golfers who announced they were quitting. The circuit had signed many of its stars away from the PGA Tour, which suspended players including Bryson DeChambeau, Dustin Johnson, Brooks Koepka and Phil Mickelson for competing in LIV events.
The two sides had explored a truce. In June 2023, the PGA Tour and the Saudi fund announced a framework to form one unified commercial business and end the legal fight between them. Talks have since stalled. The PGA Tour rejected an offer from the Saudi fund to invest $1.5 billion, on condition that LIV stay intact and that fund governor Yasir al-Rumayyan co-chair the board of PGA Tour Enterprises, the tour's commercial arm.
In a statement, Gene Davis and Jon Zinman of LIV's Special Committee said that moving toward an orderly wind-down is the most responsible path forward for the league. LIV also said it will stay open to, and keep considering, what it calls value-maximising alternatives with third parties during the wind-down. In plain terms, that means it will still look at deals that could bring back more money from its assets than a straight sale would.
For fans, the headline is simple. The plan to stage LIV events in 2027 has been dropped, and the league's future now depends on the wind-down and any outside offers it considers. For players, the question is where they play next, and that will be decided tournament by tournament and contract by contract.
