The breakaway league is now in the final throes of its existence. Bankrolled by Saudi Arabia’s Public Investment Fund, it attracted several of the world’s best golfers, paid them exorbitant sums, hosted many high-profile events and exposed golf’s tribalism.
But Saudi’s PIF is not bottomless as once perceived. The powers that be pulled the funding and LIV Golf bosses scrambled to find another investor. They entered a restructuring agreement with BC Partners Credit, which had pledged $300 million, but ultimately failed to garner enough support for a LIV 2.0 version that would have kept the league going in 2027.
Now, their proposed bankruptcy plan included a schedule for a final hearing on its disclosure statement on 7 January 2027, when it would begin liquidation.
“Debtors have determined that no viable restructuring transaction remains available due to lack of player participation and BC Partners’ termination of the Restructuring Support Agreement,” LIV said in a summary of the bankruptcy plan.
Until then, LIV Golf will determine voting rights and take any objections from those who have claims. John Rahm, for example, officially separated from LIV last week and it cost the two-time major champion a reported $100 million in unpaid claims.
