Despite everyone’s best efforts we just couldn’t get to the level of combined financial and player support necessary for a viable LIV 2.0 within the required timeline,
Matt Williams, a lawyer representing LIV Golf, told a bankruptcy court hearing on Thursday.
LIV Golf confirmed its intention to transition to an orderly wind-down of operations and liquidate remaining assets, bringing an end to the controversial breakaway circuit. The 13-minute hearing in a New Jersey bankruptcy court followed the withdrawal of BC Partners Credit, which had pulled out of a deal worth more than £200 million due to an exodus of star players.
New Jersey Bankruptcy Hearing Confirms Liquidation Plans
The announcement in the United States Bankruptcy Court for the District of New Jersey formally ended months of speculation regarding the league’s attempt to launch a revamped circuit dubbed LIV 2.0. LIV Golf filed for Chapter 11 bankruptcy protection after Saudi Arabia’s Public Investment Fund withdrew its financial backing in April 2026. The restructuring support agreement with BC Partners Advisors was terminated after the parties failed to reach a consensual resolution on outstanding terms.
The private-equity firm planning to fund what has been called LIV 2.0 – BC Partners – has decided not to move forward with the funding plan, likely putting the league out of business, the Financial Times first reported.https://t.co/HJBOvxolRm
Lawyers for the league confirmed that remaining assets will be sold off as part of the liquidation phase. A disclosure statement and wind-down plan are scheduled to be filed by November 9. Scott Greissman, a lawyer representing the Public Investment Fund, told the court that the fund had learned of the decision hours prior and respected the move.
High-Profile Player Departures Collapse Rescue Package
The collapse of the rescue package stemmed primarily from a lack of satisfying player commitments. High-profile departures in recent weeks included Jon Rahm, Sergio Garcia, Ian Poulter, Tyrrell Hatton, Louis Oosthuizen, and Lee Westwood, while Brooks Koepka exited his deal ahead of the 2026 season. BBC Sport had been told that organizers had approximately 30 players signed up for the proposed 2027 schedule, which included an event planned for March 18-21 at the Kooyonga Golf Club in Adelaide.
LIV Golf has gone from disruptor to disrupted to now disbanded. What does Thursday news that LIV is moving into liquidation mean, and what's next:https://t.co/oCOetaUX92
BC Partners Credit released a statement expressing disappointment that mutually acceptable terms could not be reached among stakeholders, noting they had supported a transaction offering a credible path toward a sustainable future. Gene Davis and Jon Zinman, members of the LIV Golf board’s special committee, stated that shifting toward an orderly wind-down is the most responsible path forward given current circumstances.
DP World Tour Prepares for Returning Rebels
The DP World Tour expects an influx of players from the defunct league and is ready to extend an olive branch. Bryson DeChambeau, who had been slated to sign with LIV 2.0, faces a November 16 deadline to apply for DP World Tour membership under a category for major champions that expires next year. Sergio Garcia retains a category ranking based on career earnings and plans to reapply.
Unlike players returning through standard pathways like Patrick Reed—who joined the DP World Tour in August 2025 and earned a PGA Tour card—others face stricter hurdles, as the PGA Tour maintains its current stance on returning members.
Frequently Asked Questions About LIV Golf’s Closure
What happened to the financing deal with BC Partners Credit?
BC Partners Credit pulled out of a proposed investment worth more than £200 million on the eve of the bankruptcy hearing because an exodus of star players left the proposed league without sufficient talent to remain viable.
LIV Golf's latest bankruptcy hearing: Attorney Matthew Williams, representing LIV, says a wind down of the league will begin by next Monday
When is the official wind-down plan due to the court?
A formal disclosure statement and wind-down plan for LIV Golf’s remaining assets must be filed by November 9 in the New Jersey bankruptcy court.
Which major players walked away before the liquidation?
Jon Rahm, Sergio Garcia, Ian Poulter, Tyrrell Hatton, Louis Oosthuizen, and Lee Westwood were among the high-profile departures who chose not to commit to the proposed LIV 2.0 league.
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