LIV Golf to Wind Down Operations as LIV 2.0 Model Fails to Gain Support

LIV Golf is initiating a value-maximizing winddown of its business after failing to secure the financial and player commitments needed for a reorganized league.

LIV Golf attorney Matthew Williams informed U.S. Bankruptcy Court Judge Michael B. Kaplan on Thursday that the league is winding down operations. The company plans to file a new Chapter 11 bankruptcy plan on Monday, November 9, 2026, shifting away from its proposed "LIV 2.0" model. This decision follows the withdrawal of BC Partners, which declined to invest $300 million after failing to reach terms with stakeholders.

The league, which voluntarily filed for bankruptcy protection on September 8, reported assets between $100 million and $500 million against liabilities ranging from $500 million to $1 billion. Saudi Arabia’s Public Investment Fund (PIF), which invested over $5 billion since 2022 to fund events with $30 million purses, had previously announced in April that it would not provide financing beyond the current season.

Player recruitment struggles contributed to the shutdown, as BC Partners required a specific level of commitment for a sustainable 2027 season. While approximately 30 golfers pledged to compete and 10 others were in negotiations, high-profile stars Jon Rahm, Sergio Garcia, and Tyrrell Hatton opted not to commit to the new model, intending instead to play on the DP World Tour.

CEO Scott O'Neil stated the league delivered competitions across five continents and secured pathways to The Open and U.S. Open during its tenure. The strategic initiative committee remains open to considering third-party alternatives during the wind-down process should circumstances change.