LIV Golf enters liquidation phase after BC Partners withdraws $300M funding
LIV Golf has officially ceased operations and entered liquidation after its primary financial backer, BC Partners, withdrew a $300 million investment. The league’s attempt to launch a successor, 'LIV 2.0,' failed due to insufficient player commitments and unresolved financial terms. This follows the earlier withdrawal of Saudi Arabia’s Public Investment Fund (PIF), which had funded the league for over $5 billion since 2022. Key players like Jon Rahm and Bryson DeChambeau have exited or are ineligible to return to major tours, while the DP World Tour prepares to absorb former LIV members.
Key points
- LIV Golf’s lawyers announced in New Jersey bankruptcy court that the league is shifting from restructuring to a 'value-maximizing wind-down' or liquidation.
- BC Partners withdrew its $300 million pledge after failing to reach mutually acceptable terms with stakeholders, effectively killing the 'LIV 2.0' plan.
- Saudi Arabia’s Public Investment Fund (PIF) had previously cut off funding in April 2026, having spent over $5 billion on the league since its 2022 launch.
- The DP World Tour is extending an 'olive branch' to former LIV players, including Bryson DeChambeau, who is ineligible for the PGA Tour due to a one-year ban.
- Jon Rahm forfeited claims against LIV, reportedly worth $100 million, to exit his contract and return to the European tour.
Background
LIV Golf, founded by Greg Norman in 2022, was a rebel golf league backed by Saudi Arabia’s PIF. It offered massive prize funds and player equity but faced criticism for its business model. The league filed for bankruptcy in September 2026 after PIF withdrew funding in April. Attempts to create a successor, 'LIV 2.0,' failed due to player shortages and financial disputes. The DP World Tour and PGA Tour have tightened rules to prevent 'double dipping' and protect their integrity.
How outlets are covering it
The New York Post emphasizes the finality of the league’s death and the financial fallout, including executive payouts. The Guardian focuses on the DP World Tour’s willingness to absorb former LIV players and the specific eligibility rules for major winners like DeChambeau. CNN highlights the broader context of the PGA Tour’s new competitive system and the European tour’s hardline stance against LIV. All sources agree on the liquidation decision but differ in emphasis: NY Post on the financial collapse, Guardian on player transitions, and CNN on the tour dynamics.
Why it matters
The collapse of LIV Golf marks the end of a significant experiment in professional golf, which had split the sport for four years. It resolves the uncertainty for players who were caught between the PGA Tour, DP World Tour, and LIV. The liquidation process will determine how assets are distributed, potentially affecting player contracts and prize money. The DP World Tour’s openness to former LIV players signals a shift in the tour’s strategy to attract talent, while the PGA Tour’s strict ban remains a barrier for many.
What to watch
LIV Golf will proceed with liquidation, selling off assets and settling debts. Former LIV players will need to secure spots on the DP World Tour or PGA Tour, with some facing eligibility challenges. The DP World Tour will evaluate applications from former LIV members, including DeChambeau, by November 16. The PGA Tour may consider relaxing its one-year ban for some players, but no official changes have been announced.
- LIV Golf is officially dead after bankruptcy court reveal New York Post
- LIV Golf to shutter the league after failing to get support ESPN
- DP World Tour ready to extend olive branch to rebels including DeChambeau after LIV Golf collapse The Guardian
- LIV Golf winding down operations, lawyer says in bankruptcy hearing CNN
- LIV Golf is dead ... but it changed golf forever Yahoo Sports
Want the full story? Read the original reporting
Read on New York Post