LIV Golf shutting down after debtors bail and players head for exits
Summary
LIV Golf said it will wind down after its bankruptcy debtors abandoned a proposed reorganization. The Saudi-backed league could not secure agreement on a new investment plan, while key players left or pursued exits.Key Facts
- LIV Golf filed for Chapter 11 bankruptcy on Sept. 8.
- Saudi Arabia’s Public Investment Fund said it would stop funding LIV after the 2026 season, after investing more than $5 billion since the league launched.
- BC Partners Credit offered $300 million for a proposed restructuring called LIV 2.0, but the parties did not reach mutually acceptable terms.
- Jon Rahm agreed to give up claims reportedly worth about $100 million to leave his LIV contract.
- Brooks Koepka chose to return to the PGA Tour.
- The European tour said players joining a restructured LIV would not qualify for European tour membership.
- LIV launched in 2022 with 54-hole events, shotgun starts and $25 million in individual and team prize funds.
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