By Fatma Younis
LIV Golf's primary financial backer, BC Partners Credit, is abandoning plans for a revamped league known as "LIV 2.0" after failing to secure enough player commitments, the Financial Times reported Wednesday. The move casts further doubt on the future of the Saudi-backed circuit, which filed for Chapter 11 bankruptcy in September.
Bankruptcy hearing shifts toward liquidation
BC Partners Credit had pledged up to $300 million for LIV 2.0, which envisioned at least 10 tournaments with a team-focused structure and equity stakes for players. However, only four players, including Brendan Steele and Cameron Tringale, publicly endorsed the new version. While up to 30 players were willing to stay, the league lacked star power. A U.S. Bankruptcy Court hearing in New Jersey scheduled for Thursday was expected to approve Jon Rahm's contract release but will now pivot toward liquidating LIV's assets, according to the report. LIV Golf officials did not immediately respond to requests for comment.
European Tour ultimatum and player departures
The European Tour, commercially known as the DP World Tour, dealt a significant blow by declaring that any player signing with LIV 2.0 would be ineligible for membership, effectively barring them from the Ryder Cup. CEO Guy Kinnings said the tour must protect itself against an entity that spent over $7 billion with the aim of destroying the DP World Tour. High-profile players such as Jon Rahm, Sergio Garcia, Louis Oosthuizen, and Tyrrell Hatton have already said they would not remain with LIV, while younger players like David Puig and Tom McKibbin also departed. Brooks Koepka exited his contract earlier in the year, and Patrick Reed is poised to return to the PGA Tour.
Saudi PIF withdrawal and financial background
The Public Investment Fund of Saudi Arabia launched LIV Golf in 2022, luring major names with nine-figure signing bonuses and spending more than $5 billion. In April, PIF announced it would cease funding after the 2026 season. The Asian Tour, which had received financial support from LIV, renewed its alliance with the PGA Tour and European Tour in July. LIV's final event took place in August in Indianapolis, won by Michael La Sasso.
