LIV Golf Loses Backing

What happened

The outlets' own sentences, most widely reported first. Hover or tap one to see who reported it.

Analysis

How it changed

1. 4 Nov

   LIV Golf began play in 2022 with the backing of Saudi Arabia’s Public Investment Fund, but the PIF yanked its funding earlier this year, imperiling the circuit that had lured stars like Bryson DeChambeau, Jon Rahm, Brooks Koepka and Phil Mickelson with reported nine-figure contracts.

   2 outlets · New York Post

Coverage 6 articles

• 5 Nov LIV Golf 2.0 never stood a chanceLIV Golf's attempt at a revival, dubbed LIV 2.0 and supported by a $300 million investment from BC Partners, has failed. The tour's prospects were dim even with this financial backing because the amount was insufficient compared to the massive signing bonuses players were demanding.New York Post
• 4 Nov LIV Golf's new funding partner pulls out over lack of player commitment in huge blow to league: reportBC Partners has withdrawn its funding for LIV Golf's proposed "LIV 2.0" restructuring due to a lack of player commitment and interest. Between 2021 and 2026, LIV Golf spent an estimated $5 billion to $8 billion but now faces significant financial difficulties, including millions in unpaid compensation to top players like Jon Rahm and Dustin Johnson. The league filed for Chapter 11 bankruptcy in September and is…Fox News
• 4 Nov LIV Golf 2.0 in trouble with financial backer reportedly pulling outThe future of LIV Golf appears uncertain as reports indicate that BC Partners has withdrawn its financial support. This comes after the league previously lost backing from the Saudi Arabian Public Investment Fund. With this new development, the viability of LIV Golf, which recently hosted a tournament in Adelaide, is now in serious question.ABC News (AU)
• 4 Nov LIV Golf thought it had a financial saviour. It’s just walked awayBC Partners has abandoned its efforts to relaunch LIV Golf due to insufficient player commitments, according to a Financial Times report on Wednesday. The professional men’s golf league, backed by Saudi Arabia's Public Investment Fund with over $5 billion in investments since 2022, filed for bankruptcy protection last September and is expected to appear in U.S. bankruptcy court this Thursday. BC Partners initially…Sydney Morning Herald
• 4 Nov LIV to wind down after backers withdraw supportLIV Golf plans to shut down after its investor, BC Partners Credit, decided the league was not viable without further funding despite commitments from about 30 players including major winners. The decision follows Saudi Arabia's Public Investment Fund (PIF) withdrawing support in April and LIV filing for bankruptcy protection in September. BBC Sport reports that BC Partners declined to provide a possible $300…BBC
• 4 Nov LIV Golf loses $300 million funding in potential death knellLIV Golf is facing potential liquidation after investment firm BC Partners withdrew its planned $300 million funding due to concerns about insufficient player participation for next year. The rebel golf league, which started in 2022 with backing from Saudi Arabia’s Public Investment Fund, has lost major support as the PIF also pulled out earlier this year. Notable players like Bryson DeChambeau and Brooks Koepka…New York Post

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