LIV Golf collapse imminent
· axios.com · popularity 33/100 · 0 similar stories today · Retirement & Estate Planning (Money, Markets & Investing)
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Summary
Efforts to keep the LIV Golf league alive have collapsed. Why it matters: LIV filed for Chapter 11 bankruptcy protection in September after its Saudi investors confirmed plans to withdraw funding after the 2026 season. Driving the news: BC Partners — which had tentatively agreed to invest in a "LIV 2.0" league — is walking away, a source familiar with the matter confirmed Wednesday. The investment was always predicated on an unspecified number of players signing on — and at least 30 ultimately indicated interest in doing so, the person said. But economic terms remained a sticking point with some of their representatives. But the league was unable to secure enough support in time to meet the deadlines set in the bankruptcy case. LIV had also lost several stars in recent weeks, including Jon Rahm and Sergio Garcia, compromising its commercial appeal. What's next: People involved in the case expect LIV to pivot to a liquidation. Spokespeople for LIV and BC Partners were not immediately available for comment. Catch up quick: The Public Investment Fund — Saudi Arabia's sovereign wealth fund — confirmed in April that it was withdrawing support for the league after the 2026 season. PIF — which ultimately plunged more than $5 billion into LIV, according to Money in Sport — decided to ditch LIV after President Trump's war in Iran scrambled geopolitics in the Middle East and jolted energy prices. The fund said in a statement that the "substantial investment required by LIV Golf over a longer term is no longer consistent with the current phase of PIF's investment strategy." Friction point: Critics of LIV and the players who joined it said the league amounted to " sportswashing " as the Saudis sought to redirect attention from allegations of human rights abuses. Defenders — including LIV member and former PGA superstar Phil Mickelson — said the league would help grow the game on a global scale. What to watch: What the league's biggest star, Bryson DeChambeau, does next.
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