LIV Golf has secured an initial committed investment from BC Partners Credit, the first part of up to US$300 million in financing aimed at helping the league emerge from its Chapter 11 restructuring ahead of the 2027 season.
BC Partners Credit, the credit arm of investment firm BC Partners, announced the deal on Monday (US time) in a statement, calling it the first part of a targeted US$300 million in cumulative financing. The financing remains subject to bankruptcy court approval and customary conditions, Reuters reported in a story carried by The Straits Times.
Players set to become owners
BC Partners Credit said the next phase of the league, which it called LIV Golf 2.0, will feature players as equity owners of both the league and its teams.
“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,” said Ted Goldthorpe, partner and head of BC Partners Credit. “Just as importantly, we want the players who make this league what it is to share in what they help build.”
What Scott O’Neil said
LIV Golf CEO Scott O’Neil welcomed the deal in a statement, according to Reuters. “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.
LIV Golf said it would keep consulting players and other stakeholders, Reuters reported, and that the agreement allows more time to discuss players’ future participation, the planned 2027 schedule and possible changes to the competitive format.
How LIV got here
LIV Golf filed for Chapter 11 in the US Bankruptcy Court for the District of New Jersey on 8 September, after signing a restructuring support agreement with BC Partners Credit, the league said at the time. It said Saudi Arabia’s Public Investment Fund had agreed to provide US$49.6 million in debtor-in-possession financing, and that it intends to emerge from the process in early 2027.
Reuters reported that the filing listed several star players, including Australian Cameron Smith, Jon Rahm, Bryson DeChambeau and Dustin Johnson, as creditors owed millions in unsecured claims.
What comes next
The second hearing in the case is set for Wednesday 7 October at 11:30am ET (2:30am AEDT Thursday), Front Office Sports reported. The outlet also reported that BC Partners has set an October 13 deadline for a “requisite number of players” to agree to new contracts with LIV, or the firm could walk away from its US$300 million funding deal.
Closer to home, Adelaide’s Kooyonga Golf Club has asked the court for clarity on whether LIV’s planned March 2027 event will go ahead, the outlet reported.
More News
- Opinion: No surprise LIV declares for bankruptcy
- GOLF: Ripper GC Stars Address PGA Tour Return As LIV Golf Future Remains Uncertain
- Opinion: Future of LIV continues to be questioned after Michigan cancellation
- Jon Rahm Won’t Rule Out Funding LIV Golf Himself as League’s Future Comes Under the Spotlight
