By Salma El-Sakka
LIV Golf has announced it will transition to an orderly wind-down of its operations, effectively ending the controversial breakaway golf tour after a proposed financing deal collapsed.
Bankruptcy filing and failed deal
The tour had filed for Chapter 11 bankruptcy in the United States Bankruptcy Court for the District of New Jersey, which cancelled playing contracts. A proposed recapitalization backed by BC Partners Credit, worth more than £200 million, fell through after the Saudi Public Investment Fund withdrew and several star players left the league.
Key players depart
High-profile golfers including Jon Rahm, Sergio Garcia, Ian Poulter, Tyrrell Hatton, Louis Oosthuizen and Lee Westwood had already opted out of the league's planned second season, contributing to the financial instability.
Official statement
In a statement on Thursday, LIV Golf said its leadership had run a disciplined process since April 2026 to find a value-maximizing path forward, but the restructuring support agreement with BC Partners Advisors was terminated after parties could not resolve outstanding terms.
