LIV Golf is officially over after announcing plans to 'wind-down' operations after failed rescue deal
LIV Golf is officially over after announcing plans to 'wind-down' operations after failed rescue deal
LIV Golf is dead.
The remaining powers that be were working to manufacture some form of a second edition of the circuit despite having no funding and an entirely unknown roster of players, but the white flag has officially been waved after five seasons.
During a bankruptcy court hearing held on Thursday, LIV Golf's lawyers shared plans for the circuit to begin liquidating its assets, with the process expected to begin on Nov. 9. LIV Golf released a statement following the hearing, announcing that it "intends to transition to an orderly wind-down of its operations."
Nothing about LIV officially closing up shop is a surprise given recent developments.
In April, the Saudi Arabia Public Investment Fund (PIF) announced that it would cease funding the circuit at the end of the 2026 season. The Saudi PIF was the sole funder of LIV, and following a reported $266 million injection into the league for 2026, was set to reach $6 billion invested dating back to 2021.
With the never-ending spigot of cash shut off by the Saudis, LIV filed for Chapter 11 bankruptcy in September, but was quickly tossed a lifeline by BC Partners in the form of a $300 million pledged investment to navigate through the proceedings and, in theory, be suited to launch 'LIV 2.0' when all the dust had settled.
On Wednesday, LIV's lifeline disappeared. BC Partners scrapped after the circuit failed to get any firm commitments from the few high-profile players who had yet to officially announce their departure from the circuit.
According to The Athletic, BC Partners had secured signatures from more than 30 players willing to compete on 'LIV 2.0,' but 10 additional players of higher-profile status failed to commit before the Oct. 25 deadline that was given.
"We thank our partners at the PIF for their collaboration and support, and BC Partners Credit for its engagement throughout this process," LIV CEO Scott O'Neil said in a statement. "We are also deeply grateful to our employees, Board, advisors, and fans around the world, whose dedication, resilience, and belief made this remarkable journey possible. Golf has given so much to so many, and my hope is that those entrusted with its future will lead with the generosity, perspective, and shared purpose this extraordinary game deserves."
LIV Golf was originally formed in October 2021 before the league hosted its inaugural tournament in England in June 2022. Its initial events were contested over three days, consisting of no-cut, 54-hole tournaments with guaranteed paydays for every player in the field.
The circuit was able to poach many stars away from the , including Bryson DeChambeau, Jon Rahm, Brooks Koepka, Dustin Johnson, and Phil Mickelson, with the incentives of a limited schedule and nine-figure signing bonuses in some cases.
Koepka (2023 PGA Championship) and DeChambeau (2024 U.S. Open) were the two lone players to win a major championship while competing on LIV.
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