LIV Golf lands initial investor to help exit bankruptcy with players as owners
BC Partners Credit announced an initial investment in LIV Golf on Monday, part of a targeted $300 million in cumulative financing to help the circuit emerge from Chapter 11 bankruptcy with a team-focused league and players as equity owners, per www.tsn.ca. The exact amount of the initial investment is not specified in the source.
The announcement came two days before the first of several hearings related to the bankruptcy filing from Sept. 8. The financing by funds advised on the BC Partners Credit platform requires bankruptcy court approval.
Ted Goldthorpe, partner and head of BC Partners Credit, said the 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.
The investment is intended to help LIV Golf emerge from bankruptcy with a team-focused league and players as equity owners, per www.tsn.ca. Goldthorpe framed that structure as central to the deal's purpose, telling reporters that giving players real and actionable ownership aligns everyone around the long-term success of the product.
Court approval remains the immediate hurdle. The financing would allow LIV to start planning on a 2027 season, which includes a 10-tournament schedule, half of them at international sites.
WHAT HAPPENED
The announcement is part of a targeted $300 million in cumulative financing, per www.tsn.ca. That money is what would allow LIV to begin planning a 2027 season, including a 10-tournament schedule with half the events at international sites.
The financing arrives after the Public Investment Fund of Saudi Arabia withdrew its massive funding — more than $5 billion since LIV launched in 2022, according to www.tsn.ca. That money had covered signing bonuses that reached nine figures in some cases, plus $20 million prize funds for individual play.
With that backing gone, LIV players now have a few weeks to decide whether they want to be part of LIV Golf 2.0. The status of Sergio Garcia's contract is not resolved; he asked the court last week to clarify whether it is terminated because of the bankruptcy filing or if he can terminate it himself, per www.tsn.ca.
THE NUMBERS AND CONTEXT
The target is $300 million in cumulative financing from BC Partners Credit, per www.tsn.ca. The exact amount of the initial investment is not specified.
That figure sits against the scale of what came before. The Public Investment Fund of Saudi Arabia provided more than $5 billion in funding since LIV launched in 2022, according to www.tsn.ca. Much of that went to player acquisition: signing bonuses reached nine figures in some cases, with $20 million prize funds for individual play.
The new money is meant to replace that backing, but on a different scale. The planned 2027 season would run 10 tournaments, half at international sites, per www.tsn.ca — a leaner operation than the circuit that burned through Saudi cash for four years.
For players weighing whether to sign on to LIV Golf 2.0, the financial gap between the old model and the new one is the central question. What they were promised then is not what is on offer now, and the numbers make that plain.
THE REACTION
Ted Goldthorpe, partner and head of BC Partners Credit, framed the investment as a reset. “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,” he said.
The ownership structure is the hook for players. “Giving players real and actionable ownership in the league and the teams is a unique opportunity in professional golf,” Goldthorpe said, “and it aligns everyone around the long-term success of the product for the game and for the fans.”
LIV Golf CEO Scott O’Neil called the investment an important step, thanking Goldthorpe and BC Partners “for their conviction in what we’re building.”
The players are less certain. Adrian Meronk, who joined LIV in 2024 and won the Dunhill Links Championship on Sunday, described the past year as disorienting. “It’s been a very strange year on LIV, obviously finding about Saudis backing off and finding new investors,” Meronk said.
He stopped short of committing. “There’s still a lot of unknowns that we are not sure of. And to be honest, it’s hard from a player’s perspective to make a decision,” Meronk said. “So I’ll just wait and see. We still have a couple weeks but as I said, this helps a lot.”
Meronk’s win paves the way for him to have European tour status next year, per www.tsn.ca, giving him leverage the other LIV players may not have. For them, the choice comes down to what the new ownership can actually deliver.
WHAT TO WATCH NEXT
The financing still needs bankruptcy court approval, with the first of several hearings set for two days after BC Partners Credit’s announcement. The outcome of those hearings is not yet known.
LIV players have only a few weeks to decide whether they want to be part of LIV Golf 2.0, per www.tsn.ca. Whether they commit remains unconfirmed, and the uncertainty is weighing on the roster.
Sergio Garcia has asked the court to clarify his contract status — specifically whether the bankruptcy filing terminated his deal or if he can end it himself. That request remains pending.
For Adrian Meronk, Sunday’s Dunhill Links Championship win gives him a path to European tour status next year, per www.tsn.ca, a fallback most of his LIV peers do not have. “We still have a couple weeks but as I said, this helps a lot,” Meronk said.
The next few weeks will determine whether the players buy into the ownership model or walk. Court approval of the BC Partners financing is the first hurdle, and the hearings start almost immediately.
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