LIV Golf to wind down after investors abandon planned relaunch

LIV Golf is abandoning plans for a 2027 relaunch and will wind down its operations after failing to secure the financial and player support needed to continue, according to reports from ABC News Australia and Sky News. Lawyer Matthew Williams told a bankruptcy court hearing in New Jersey that the debtors were no longer proceeding with the proposed “LIV 2.0” plan. Instead, the league was moving toward what he called a value-maximising wind-down of the business.

The breakaway men’s circuit filed for Chapter 11 bankruptcy on 8 September. It had hoped to continue through a $300 million investment pledged by BC Partners Credit, which was intended to create a more financially sustainable version of the league. BC Partners said it supported a transaction that would align the interests of players and investors, but added that mutually acceptable terms could not be reached among the stakeholders.

Several high-profile players, including Jon Rahm, Sergio Garcia, Tyrrell Hatton and Louis Oosthuizen, were reportedly unwilling to accept the proposed arrangement. LIV’s financial difficulties deepened in April, when Saudi Arabia’s Public Investment Fund withdrew its backing after the 2026 season. ABC reported that the league had spent more than $5 billion during its existence.

The circuit had launched in June 2022 with nine-figure signing bonuses designed to attract leading players from the PGA Tour. The league held four events in Australia, all in Adelaide, and had been scheduled to return for a fifth tournament at Kooyonga Golf Club in March. Its final event took place in Indianapolis in August and was won by Michael La Sasso.

LIV had attempted to distinguish itself through 54-hole shotgun starts, music and large prize funds. It initially lacked a broadcast agreement and had to cover production costs, before securing the CW Network in 2023 and Fox Sports in 2025. The league also faced setbacks beyond its funding problems.

The Asian Tour renewed its alliance with the PGA Tour and European Tour in July, while European Tour chief executive Guy Kinnings said players signing for LIV 2.0 would not qualify for membership. That created potential consequences for European players seeking Ryder Cup involvement. Several players have already begun leaving.

Rahm agreed to forfeit claims reportedly worth about $100 million to exit his contract and has returned to the European Tour, while Brooks Koepka left his LIV deal and Patrick Reed declined to extend his. The PGA Tour has created a route back for some LIV players, subject to financial penalties, although a one-year ban applies to players from their last LIV appearance. The bankruptcy process will also examine executive payments.

LIV paid $15.6 million to retain seven executives between the loss of Saudi backing and the bankruptcy filing, including $6.375 million to chief executive Scott O’Neil. The reports say it remains open whether those payments can be challenged now that the relaunch has been abandoned.