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LIV Golf to Be Liquidated as Financing Deal Collapses
Lawyers said the league failed to secure enough funding and player support for its planned restructuring, leaving creditors to be paid from assets.
- On Thursday, LIV Golf confirmed it will liquidate, abandoning restructuring plans after failing to secure sufficient funding and player commitments during a New Jersey bankruptcy court hearing.
- Partners Credit withdrew from a potential $300 million funding deal, determining the league lacked the "requisite players" and financial support necessary for a viable 'LIV 2.0' restructuring.
- LIV Golf attorney Matthew Williams said in court, "We just couldn't get to the level of combined financial and player support necessary for a viable LIV 2.0 in the required timeline."
- The league will now proceed with Chapter 11 liquidation, prioritizing asset distribution to creditors with the official wind-down process set to begin by Monday.
- This decision concludes a tumultuous five-year, $5 billion saga that began in 2022 with Saudi Public Investment Fund backing, which withdrew support earlier this year.
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14 Articles
14 Articles
LIV Golf is headed toward bankruptcy barring a last-minute rescue
LIV Golf, the breakaway golf tour backed by Saudi royalty and some of the biggest names in the game, indicated Thursday it planned for bankruptcy — a stunning conclusion to an effort that had received billions of dollars in backing.
·New York, United States
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Total News Sources14
Leaning Left3Leaning Right3Center5Last UpdatedBias Distribution46% Center
Bias Distribution
- 46% of the sources are Center
46% Center
L 27%
C 46%
R 27%
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