BC Partners has withdrawn its proposed rescue of Saudi-backed LIV Golf, leaving the bankrupt golf league facing liquidation after the private equity firm failed to secure sufficient player commitments for a planned relaunch, according to a report by the Financial Times.
The investment firm had reportedly proposed committing up to $300m to establish a successor competition, provisionally known as LIV 2.0, featuring a 17-tournament international schedule. However, negotiations stalled as several high-profile players declined to participate and others were unwilling to enter binding agreements amid restrictions imposed by the rival DP World Tour.
BC Partners had reportedly provided $4m in bankruptcy financing to support the proposed restructuring and was also seeking to acquire approximately $5bn in accumulated tax losses associated with LIV Golf, which could potentially have supported future sports-related acquisitions.
Saudi Arabia’s Public Investment Fund, which owns 99% of LIV Golf and has invested approximately $5bn in the competition since 2021, had previously announced plans to end funding after the 2026 season. The bankruptcy process is now expected to focus on resolving outstanding creditor claims, including obligations to players and suppliers, with unsecured claims running into hundreds of millions of dollars.
