LIV Golf plans to shut down. The league said Thursday it intends to move to an "orderly wind-down" of its operations after the deal meant to carry it out of bankruptcy fell apart. According to LIV Golf's announcement, its restructuring support agreement with BC Partners Credit, the lending arm of investment firm BC Partners, has been terminated because the parties could not settle "certain outstanding terms." The rescue transaction is not expected to go ahead "at this time."
LIV Golf Incorporated and its affiliates filed for Chapter 11 on Sept. 8 in the U.S. Bankruptcy Court for the District of New Jersey.
What the rescue plan was
When the league filed in September, the plan was to come out of bankruptcy in early 2027 owned mostly by its own players. BC Partners Credit and possibly other minority investors would provide exit financing and sponsor the plan. Saudi Arabia's Public Investment Fund agreed to lend the league $49.6 million to keep running during the case, subject to court approval. LIV also asked courts in England and Wales to recognize the U.S. case so its international assets would be protected.
With that plan gone, Gene Davis and Jon Zinman of the board's special committee called the wind-down "the most responsible path forward for the League at this time."
What happens next
The league says the wind-down fits the court-approved timeline for the case, which was set up from the start to allow an orderly shutdown if no acceptable reorganization deal came together. LIV will keep considering "value-maximizing alternatives" from outside parties during the wind-down, so a sale or some other deal is still possible.
The announcement gives no date for when operations stop. It also does not say what happens to the teams, player contracts, employees or sponsors. LIV's schedule page lists only the 2026 season and no 2027 events. The 2026 schedule had three U.S. stops: Virginia in May, Bedminster, N.J., in August and Indianapolis on Aug. 20 to 23, the season's final event.
In his statement, chief executive Scott O'Neil listed what the league had built, including qualifying pathways to The Open and the U.S. Open and Official World Golf Ranking points for its events. He did not say whether any of that survives the wind-down.
Vendors, creditors and others with questions about the case can reach the company's claims agent, Omni Agent Solutions, at (888) 918-4632 in the U.S. and Canada, (818) 510-4675 from elsewhere, or [email protected], according to the September filing announcement. Case documents are posted at omniagentsolutions.com/livgolf.
