From SI Mexico · · 1m 30s
LIV Golf Closes After Five Years of Controversy
LIV Golf ends its circuit after five years of disputes with Saudi investors and star players.
In brief
LIV Golf ends its circuit after five years of disputes with Saudi investors and star players. LIV Golf officially closes its circuit after five years, ending its partnership with Saudi Arabia and failing to relaunch with new investors. Originally reported by SI Mexico.
LIV Golf Closes After Five Years
LIV Golf officially ends its circuit after five years of controversy and lost Saudi investors.
Saudi Investment Ends
Saudi Arabia's Public Investment Fund cut funding to LIV Golf in early 2024, leaving the circuit with $5 billion debt.
Bankruptcy Filing
LIV Golf filed for bankruptcy protection in September, planning a relaunch as LIV 2.0 with shorter schedules and player shares.
BC Partners Withdraws
BC Partners Credit, the main investor for LIV 2.0, withdrew support due to difficulty convincing top players to commit.
Key Players Leave
Jon Rahm and Bryson DeChambeau publicly announced their desire to leave LIV Golf, weakening the relaunch effort.
Bankruptcy Details
LIV Golf owed $500 million to $1 billion to at least 1,000 creditors, including Rahm and DeChambeau.
LIV Golf's Final Statement
LIV Golf said it would consider any value-maximizing options with third parties as it liquidates assets.
BC Partners' Response
BC Partners Credit stated there was strong support for LIV but no agreement on terms could be reached with the circuit.
LIV Golf's Legacy
LIV Golf was described as fun, challenging, inspiring, and rewarding for players, but the circuit has now closed.
The one thing
LIV Golf officially closes its circuit after five years, ending its partnership with Saudi Arabia and failing to relaunch with new investors.
