LIV to wind down after backers withdraw support

LONDON, United Kingdom, Nov 5 – LIV Golf is set to be wound down after its investor withdrew support because the proposed new league failed to attract enough players. LIV had hoped BC Partners Credit would provide a possible $300m (£223m) in financing after Saudi Arabia’s Public Investment Fund (PIF) withdrew its backing in April, leading to the league filing for bankruptcy protection in September. The funding could have helped the competition move forward in a new form, dubbed LIV 2.0, but BC Partners is understood to have decided it is not viable to pursue a deal. While leading players su...

LIV had hoped BC Partners Credit would provide a possible $300m (£223m) in financing after Saudi Arabia’s Public Investment Fund (PIF) withdrew its backing in April, leading to the league filing for bankruptcy protection in September.

The funding could have helped the competition move forward in a new form, dubbed LIV 2.0, but BC Partners is understood to have decided it is not viable to pursue a deal.

While leading players such as Jon Rahm and Sergio Garcia had already walked away, BBC Sport understands that those working on LIV 2.0 had received commitments from co-investors, felt support from within the golf ecosystem and had about 30 players signed up, including major winners.

But sources say the timelines ultimately proved insurmountable and they could not get the agreements they needed to move forward.

Source: Capital FM Sports