The future of LIV Golf is going through one of its most difficult periods since its creation. The circuit backed by Saudi Arabia has reportedly failed to secure its continuity after BC Partners, its main investor in the relaunch project, decided to withdraw its financial support. The decision represents a major blow to a competition that was seeking to restructure its organization after filing for bankruptcy in September and had planned to return next season under a new format.
According to reports by Financial Times and The Athletic, the private equity firm withdrew after encountering difficulties convincing several of the circuit’s leading players to commit to the project in the long term. The situation comes amid a significant player exodus, doubts about the league’s commercial viability and a challenging financial outlook. LIV Golf is due to appear before a bankruptcy court this Thursday in Trenton, New Jersey, to address various contracts, leases and organizational assets.
Player departures complicate LIV Golf’s future
The relaunch project, known as LIV 2.0, included a shorter season, reduced prize money and the possibility of granting equity stakes in the league to its own players. To launch this new phase, BC Partners Credit had committed to providing initial financing of up to $300 million. However, the proposal began to lose momentum when several major figures announced they would not remain with the circuit. Among them were Spaniards Jon Rahm and Sergio García, who publicly announced their decisions to leave the competition. Uncertainty also surrounds Bryson DeChambeau, arguably the most important player who had still maintained his support for LIV Golf, but who has yet to confirm his participation in the project.
The departure of players has also been accompanied by greater difficulties in maintaining relationships with other tours. The DP World Tour changed its policy of allowing golfers to compete simultaneously in its tournaments and those of LIV Golf, forcing some players to choose where they would compete. Its chief executive, Guy Kinnings, defended the decision, arguing that the organization needed to protect itself against an entity that, according to his statements, had invested more than $7 billion with the aim of weakening its competitors. Rory McIlroy, one of LIV’s most prominent critics, expressed a similar position, backing the DP World Tour’s stance and questioning the strategy used by the Saudi-backed circuit to attract players and sponsors.
The financial crisis and bankruptcy proceedings
BC Partners’ withdrawal represents another chapter in LIV Golf’s financial difficulties. Since 2022, the circuit had received approximately $5 billion from the Public Investment Fund of Saudi Arabia (PIF). However, that financial backing was abruptly halted in early 2026, leaving the circuit needing to find a new funding structure. The organization formally declared bankruptcy in September, although its executives initially maintained their intention to rebuild the competition. Now, with the departure of the investor expected to lead that transformation, the project’s future is seriously compromised, and the remaining assets could end up being liquidated.
The scale of the problem was also reflected in documents filed with the bankruptcy court, which revealed estimated liabilities of between $500 million and $1 billion owed to at least 1,000 creditors. Among the main claims are those involving Jon Rahm, Bryson DeChambeau and Dustin Johnson, each of whom is listed as having unsecured claims exceeding $5 million. Meanwhile, McIlroy called for a restructuring of professional golf, arguing that LIV’s emergence had altered the balance between the tours and given players influence that does not necessarily benefit the sport. The Northern Irishman described this period as a strange time for golf and noted that, despite the increase in athletes’ earnings, the current landscape requires greater cooperation and negotiation between the organizations.
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