LIV Golf to wind down instead of launching a new version

Business · First reported 5 Nov, 17:12 · Updated 18:40

Image: Wikimedia Commons · NASA Johnson Space Center · Public domain

LIV Golf plans to wind down its operations rather than proceed with LIV 2.0, according to statements in a bankruptcy hearing. The supplied coverage attributes the decision to a lack of financial support; the detailed report says the league had lost Saudi funding and that efforts to reach acceptable terms with stakeholders did not succeed.

In a New Jersey bankruptcy hearing, LIV Golf’s lawyer said the debtors were not proceeding with the LIV 2.0 plan and would instead pursue a wind-down.
The reports describe the reason as insufficient financial support. The detailed account says Saudi Arabia’s Public Investment Fund stopped funding LIV after the 2026 season.
LIV filed for Chapter 11 bankruptcy on September 8. A proposed $300 million investment from BC Partners Credit had been intended to support a more financially sustainable version, but acceptable terms among stakeholders were not reached.
Several players, including Jon Rahm, Sergio Garcia, Tyrrell Hatton and Louis Oosthuizen, were reported as unwilling to take part in the proposed new version.
The detailed report says LIV’s final event was held in Indianapolis in August and was won by Michael La Sasso.

Summary written by Lux AI from 3 articles

Key facts

Decision: Wind down operations instead of proceeding with LIV 2.0.
Stated reason: Insufficient financial support.
Bankruptcy filing: Chapter 11 filing on September 8.
Proposed investment: BC Partners Credit pledged $300 million toward a proposed pivot.
Reported spending: More than $5 billion over four years.