By Fatma Younis
LIV Golf announced Thursday it will transition to an orderly wind-down of its operations, ending the controversial breakaway tour after a financing deal worth more than £200 million collapsed.
Funding deal falls through
The collapse follows the withdrawal of Saudi Arabia's Public Investment Fund and the failure of BC Partners Credit to finalize its backing, according to the Financial Times. BC Partners pulled out because of an exodus of star players, including Jon Rahm, Sergio Garcia, Ian Poulter, Tyrrell Hatton, Louis Oosthuizen, and Lee Westwood.
Chapter 11 filing cancels contracts
LIV filed for Chapter 11 bankruptcy in the U.S. Bankruptcy Court for the District of New Jersey, a move that effectively cancelled playing contracts. The league had sought to implement a recapitalisation with BC Partners Advisors through the court process.
Leadership statement
In a statement, LIV said its leadership team had run a disciplined process since April 2026 to identify the best path forward, but parties were unable to reach a consensual resolution on outstanding terms, leading to the termination of the restructuring support agreement.
The wind-down brings to a close a tour that had drawn some of golf's best-known names away from established circuits.
