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BC Partners Withdraws Funding for LIV Golf 2.0
Confirmed
In Short: BC Partners has withdrawn its funding for LIV Golf 2.0, a move that could lead to the league's liquidation.
BC Partners has withdrawn its funding for LIV Golf 2.0, a move that could lead to the league's liquidation. The London-based investment firm had committed to invest up to $300 million to keep LIV Golf afloat, but decided to pull out due to a lack of player commitments.
According to multiple reports, BC Partners had planned to replace Saudi Arabia's Public Investment Fund as LIV Golf's primary financier. However, with not enough of the league's top golfers committed to return in 2027, the firm has opted to pull out.
The league's CEO, Scott O'Neil, had previously stated that the court-supervised restructuring mechanism would allow LIV Golf to pursue its next phase of 'LIV 2.0' with players holding a majority ownership stake in the league.
However, sources told ESPN that LIV Golf met a critical mass of players who had pledged to compete in the league next season, but BC Partners pulled the plug when negotiations with those golfers dragged.
The withdrawal of BC Partners' funding is a significant blow to LIV Golf, which had lured away stars like Rahm, Bryson DeChambeau, Dustin Johnson, and others from the PGA Tour with guaranteed contracts of more than $100 million and events with $30 million purses.
LIV Golf's hopes of a 2027 relaunch have been shattered after BC Partners pulled its proposed investment, with key players like DeChambeau, Dustin Johnson, Cameron Smith, and Joaquin Niemann refusing to sign up to the new project.
BC Partners and LIV Golf did not immediately respond to requests for comment.
The league's restructuring process began with a Chapter 11 bankruptcy filing in the U.S. Bankruptcy Court of New Jersey, with the assistance of BC Partners' credit business.
What this adds
BC Partners' decision to withdraw funding is a significant setback for LIV Golf's plans to reinvent itself.
The league's restructuring process and bankruptcy filing indicate the severity of the financial challenges faced by LIV Golf.
The lack of player commitments is a critical factor in BC Partners' decision to withdraw funding, highlighting the league's struggle to maintain its star power.
What's confirmed
- “They took players; they took sponsors; they turned professional golf into an arms race,” the Northern Irishman told reporters ahead of the Abu Dhabi Championship.
- BC Partners is dropping its bid to relaunch LIV Golf due to an inability to secure enough player commitments, the Financial Times reported on Wednesday.
What's still developing
- BC Partners is pulling out of its deal to invest $300 million into the LIV Golf League, and barring a last-minute buyer, the breakaway circuit is likely headed toward a liquidation of its assets, sources told ESPN on Wednesday.
- According to The Athletic, LIV Golf is now pivoting to a wind-down, as BC Partners no longer believes LIV could form a viable league.
- It's been reported LIV could now be forced to liquidate all assets having failed to secure any other investors outside of BC Partners.
- Once LIV exits bankruptcy, BC Partners and other potential investors are expected to provide additional financing to keep the league operational.
- NEW YORK – September 8, 2026 – LIV Golf Incorporated and its affiliates (collectively, “LIV Golf” or the “Company”) today announced that it has entered into a Restructuring Support Agreement (“RSA”) with BC Partners Advisors L.P., the credit business of BC Partners (“BC Partners Credit”), which contemplates a proposed recapitalization transaction (the “Transaction”).
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- The court-supervised restructuring mechanism will allow LIV Golf to pursue its next phase of "LIV 2.0" with players holding a majority ownership stake in the league. "Plenty of well-known companies have taken this path before us, including Marvel Entertainment, Delta Airlines, and Caesars Entertainment, along with sports franchises like the Los Angeles Dodgers, Pittsburgh Penguins, and Leeds United F.C," said LIV Golf CEO Scott O'Neil in a letter to fans. "We are entering this process with a clear plan and the support of BC Partners, well-capitalized investors with deep experience in sports and entertainment."
- LIV said in a statement that BC Partners, a London-based private-equity firm, and other potential minority investors are expected to provide exit financing, with the goal of making LIV 2.0 a more sustainable model.