BC Partners Withdraws LIV Golf Investment Deal
BC Partners is pulling out of its deal to invest $300 million into the LIV Golf League, a move that leaves the circuit facing a potential liquidation of its assets, ESPN reported Wednesday. The London-based investment firm had planned to inject $300 million into the venture, according to ESPN, but opted to pull out after the league failed to secure enough commitments from top players. The firm had previously been permitted by Judge Michael B. Kaplan to enter into a restructuring plan, with CEO Ted Goldthorpe stating as recently as last month that “all systems (were) go.”
The investment was contingent upon an unspecified number of golfers signing on to the new circuit. While a source familiar with the matter told Axios that at least 30 players indicated interest, negotiations regarding economic terms stalled. ESPN reports that roughly 30 players had pledged to compete in 2027, with another 10 still considering the offer, but the firm withdrew when these discussions dragged past critical deadlines set in the league’s bankruptcy case. The proposed relaunch would have featured a scaled-back, 10-event schedule and made players majority owners of the organization.
Potentially the biggest blow yet to LIV Golf… BC Partners, the private capital firm who was set to fund LIV 2.0, is reportedly backing out of the deal due to lack of player interest, per @sindap @drinksuncruiser pic.twitter.com/8eSWou8Fri
Liquidation Prospects in Bankruptcy Court
LIV Golf is scheduled to appear in U.S. bankruptcy court on Thursday, where the focus is expected to shift toward the liquidation of its assets, CNBC reported. The league filed for Chapter 11 bankruptcy protection in September following the decision by Saudi Arabia’s Public Investment Fund (PIF) to cease funding the circuit after the 2026 season. The final event of the league’s tenure took place in Indianapolis in August.
The PIF had invested more than $5 billion into the league since its 2022 launch, according to its bankruptcy filing. However, the fund stated in April that the substantial long-term investment required by LIV Golf was no longer consistent with its current strategy. Following the April funding announcement, LIV had attempted a “strategic evolution” that included establishing an independent board and hiring former executive Mark King as a senior adviser last week.
Stars Exit as Format Changes Stall Commercial Growth
The league’s commercial appeal has been hampered by the loss of several high-profile stars. Rahm noted that “too many unknowns” and changes to the league’s format influenced his decision to depart, specifically citing a move away from the team format that originally attracted him. Reports indicate Rahm was owed roughly $100 million on his contract when he exited. Meanwhile, Garcia has already secured a release from his contract and is exploring a return to the PGA and DP World Tours.
Adding to the pressure, the DP World Tour announced last month that it would deny membership or conditional status to any golfers who sign up for LIV 2.0. This mandate serves as a significant barrier for players who intended to split their time between circuits. “Players need to make a choice,” DP World Tour CEO Guy Kinnings told the BBC. This decision was described by a source to ESPN as “a nail in the coffin” for the league’s recruitment efforts, as it effectively barred LIV participants from competing in events like the Ryder Cup. Golfers must apply for DP World Tour membership by Nov. 16.
FT SCOOP: BC Partners to drop bid for LIV 2.0 as it can't get enough players to commit in time to meet deadlines set with PIF and LIV. Court hearing set for tomorrow where more details to be shared:https://t.co/1FnR4ilPA5 pic.twitter.com/d4CdoEVDEJ
Common Questions About the Future of LIV Golf
- What is the current status of the LIV 2.0 roster?
Only four players—Richard Bland, Cameron Tringale, Brendan Steele, and Ben Campbell—had publicly committed to the revamped league, according to Golf Digest via CNBC. - Why did the PIF stop funding the league? The fund stated that the long-term investment required for LIV Golf was no longer aligned with its broader investment strategy.
- What happens to the players who signed with LIV?
Players who joined LIV face significant career limitations, as the DP World Tour has confirmed it will not grant membership to those participating in the 2027 LIV season. This restriction prevents those golfers from participating in events that require DP World Tour membership, including the Ryder Cup, per the BBC.
Former Commissioner Receives Massive Exit Package
Former commissioner Greg Norman received more than $9.4 million as part of his exit package in September 2025. Despite the liquidation pivot, some players maintain hope for the circuit’s survival, with Bryson DeChambeau stating he hopes the league “exists forever,” while others, such as Lee Westwood, have noted that no agreeable terms for a relaunch were ever presented to them.
More on Ryder Cup
LIV Golf's collapse looks imminent, @danprimack and I report for @Axios. https://t.co/2Xgks8wWPK
BC Partners is dropping its bid to relaunch LIV Golf, leaving the Saudi-backed tour to seek liquidation of its remaining assets, per @FT. The decision comes ahead of a deadline to secure player support for a 2027 series. MORE: https://t.co/2PsUKVMsn4 pic.twitter.com/8fAh7hXg3k
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