LIV Golf is ceasing operations, its lawyers told a judge on Thursday in U.S. Bankruptcy Court in New Jersey.
The move was expected after it became clear Wednesday that efforts to regroup with financing from investors BC Partners would not happen. A group of 10 players, who remained unsure about committing to the so-called LIV 2.0, wanted to hold an 11th-hour meeting Wednesday night to discuss the financial structure but were rebuffed by BC Partners, The Athletic reported.
Now, per the report, the bankruptcy process will focus not on restructuring the business model but instead shifting to selling off its assets and paying creditors.
LIV Golf CEO Scott O’Neil issued a lengthy statement about his “rewarding” experience on the job.
“Building a global platform designed to bring new, younger, and more diverse fans to the sport of golf has been the round of a lifetime for all of us,” his statement read. “LIV Golf was fun, demanding, inspiring, at times challenging — but always rewarding.
“Together, our team delivered world-class individual and team competitions across five continents, built a global business, secured pathways to The Open and U.S. Open, earned Official World Golf Ranking points, engaged with stakeholders focused on the health and future of the game, created value in our teams, attracted premier sponsors, brought investors to the table around a next-generation business plan, and built a league capable of attracting both elite and rising talent from around the world.
“At the heart of these achievements were our players, a global roster representing more than 20 countries, whose passion, commitment, and belief in the vision helped us build something extraordinary.
“… We created memories that I hope will inspire a new generation of fans to follow, play, and fall in love with this great game,” O’Neil concluded.
The Athletic reported that the liquidation effort is expected to begin Monday.
The launch of LIV Golf in 2022, with the financial support of the Saudi Public Investment Fund, fractured golf as PGA Tour stars were lured away with huge contracts, big tournament paydays, top-of-the-line travel accommodations and a more family-friendly tour schedule.
Players to leave the PGA Tour included some of its biggest names, such as Jon Rahm, Bryson DeChambeau and Brooks Koepka, as well as up-and-comers like Joaquin Niemann.
Koepka returned to the PGA Tour for the 2026 season. The rest of the players who competed with LIV will need to work with other tours around the world to determine whether they will be welcome and at what financial penalty.
The Athletic said Thursday that the PIF had spent $5 billion on LIV Golf before saying this spring that it was pulling funding and allocating its resources elsewhere.
BC Partners was putting up $300 million to get a streamlined LIV Golf through bankruptcy but decided this week that a restart was not viable, according to The Athletic.
–Field Level Media
