By Salma El-Sakka
BC Partners has abandoned its attempt to relaunch LIV Golf, the Financial Times reported Wednesday, dealing a major blow to the Saudi-backed golf league.
LIV Golf filed for Chapter 11 bankruptcy protection in New Jersey in September as part of a restructuring process, but has insisted it will continue operations while reorganizing.
The private capital firm faced a deadline to demonstrate it had secured sufficient player support to stage a tournament series in 2027, according to sources familiar with the matter.
In October, BC Partners made an initial investment and planned to provide up to $300 million in financing to help the league exit restructuring ahead of the 2027 season.
LIV Golf launched in 2022 with backing from Saudi Arabia's Public Investment Fund, luring star players from the PGA Tour with lucrative contracts.
