LIV Golf has officially entered into a restructuring support agreement with private equity firm BC Partners Credit for a potential $300 million investment to continue operating into 2027.
The deal comes after the breakaway golf circuit lost its multi-billion-dollar financial backing from Saudi Arabia's Public Investment Fund following the conclusion of the 2026 season and filed for bankruptcy protection in the United States.
According to Sky Sports News, LIV executives are confident that the agreement will allow the league to move forward under a new model known as LIV 2.0. A court hearing is scheduled for October 14 to seek approval for the funding deal as part of a court-supervised restructuring process that LIV hopes to complete early next year.
The arrangement secures an extension for LIV to discuss terms with its players, keeping negotiations open until October 25. Sky Sports News understands there is no obligation for players to remain with LIV, regardless of whether they previously signed multi-year contracts.
Player Equity Model and Unsecured Creditors
BC Partners Credit expressed intent to place the circuit on a sustainable path. Ted Goldthorpe, partner and head of BC Partners Credit, said in a statement: "Our goal is to facilitate LIV Golf's emergence from the restructuring process on sound financial footing and with renewed momentum heading into the 2027 season."
Under the next stage supported by BC Partners Credit, players would become equity owners of the league and its individual teams. LIV stated that the new capital would enable the organization to transition from its planning stage into operational execution.
Several of golf's biggest names are listed as creditors holding unsecured claims against the circuit for millions of pounds. Spanish major winner Jon Rahm heads the list of unsecured creditors, with $7.5 million (£5.5 million) owed to him, while England's Tyrrell Hatton is owed £2.5 million.
Five-time major winner Brooks Koepka is listed as a creditor for £1.25 million. Koepka resigned from LIV to rejoin the PGA Tour earlier this year. Major winners Bryson DeChambeau, Cameron Smith, and Dustin Johnson are also among the players who signed with LIV after its creation in 2021, having been lured away from the PGA Tour with lucrative contracts.
Executive Statements and League Ambitions
LIV Golf Chief Executive Scott O'Neil described the potential investment as a pivotal development for the organization. "This investment is an important step forward for LIV Golf, and I want to thank Ted Goldthorpe and the entire BC Partners team for their conviction in what we're building," O'Neil said.
O'Neil emphasized that management remains committed to the future of the enterprise. "We believe deeply in the future of this league and in the opportunity to build something distinctive alongside our players," he said.
O'Neil added: "We're delivering on our major milestones, and while there is still work ahead, today marks meaningful progress toward a player-owned, team-focused, truly global league that complements the wider game and creates new opportunities for players, fans, partners, and the next generation of golfers."
Background and Next Steps for LIV Golf
LIV Golf was launched in 2021 as a high-stakes alternative to traditional professional golf, introducing 54-hole team tournaments and drawing top talent away from the PGA Tour. The US-based PGA Tour had long stood as the dominant organizing body in men's professional golf.
A restructuring support agreement is a legal contract between a financially distressed company and its financial backers that outlines agreed terms for reorganizing debt before or during bankruptcy proceedings. US bankruptcy protection allows an organization to restructure its operations and debts while continuing to conduct business.
The next key milestones for LIV Golf include the October 14 court hearing to approve the BC Partners Credit financing package and the October 25 deadline for player negotiations. If approved by the court, LIV expects to conclude its restructuring process in early 2027.
