LIV Golf, the pro-golfing startup venture whose biggest investor had been the sovereign wealth fund of Saudi Arabia, is shutting down after it couldn’t reach an agreement with a new investor on a bankruptcy reorganization.
\n\nThe league was founded in 2021 by a group of pro golfers, led by Phil Mickleson and Greg Norman, who were dissatisfied with the sport’s biggest player, the PGA Tour. Saudi Arabia’s Public Investment Fund, which was LIV Golf’s primary backer, invested more than $5 billion into the venture — before the PIF in April 2026 said it was ending its funding.
\n\nAfter the Saudis exited, LIV Golf had proposed a recapitalization transaction with BC Partners Advisors through its voluntary Chapter 11 bankruptcy proceedings in the U.S. Bankruptcy Court for the District of New Jersey. However, according to a statement from the league, “the relevant parties were ultimately unable to reach a consensual resolution of certain outstanding terms of the transaction.”
\n\nAs such, LIV Golf announced that it intends to liquidate its assets and wind down the business, but added that “the company will remain open to, and continue to consider, any value-maximizing alternatives with third parties that may arise.”
\n\nBC Partners Credit had proposed…
Original source: https://variety.com/v/tv/