BC Partners Pulls $300 Million LIV Golf 2.0 Funding as Bankruptcy Hearing Nears

BC Partners Credit has reportedly withdrawn its pledge of up to $300 million to finance a relaunch of LIV Golf, called LIV 2.0, after the league failed to secure enough top-player commitments for 2027, according to reports citing sources and the Associated Press. LIV is due in U.S. bankruptcy court on Thursday, and the hearing is now expected to focus on liquidating its assets, CNBC reported. LIV filed for Chapter 11 protection in September after Saudi Arabia's Public Investment Fund said it would stop funding the league after the 2026 season. The fund had put in more than $5 billion since 2022, according to the filing. The plan would have made players majority owners with a scaled-back schedule. Jon Rahm, Sergio Garcia, Tyrrell Hatton and Louis Oosthuizen have left. Rahm said too many unknowns remained. The Athletic reported LIV is moving toward a wind-down.

The right-leaning outlets frame the story as a financial failure. The New York Post argues in its headline that LIV 2.0 never stood a chance and calls $300 million paltry, since top players had received that much in signing bonuses. Fox News calls the withdrawal a huge blow and adds context: PIF halted funding in April to redirect money and manage pressures from the war with Iran, governor Yasir Al-Rumayyan left LIV's board, and the league owes millions to players including Rahm, Bryson DeChambeau, Dustin Johnson and Cam Smith. The left-leaning Guardian, in the opening available, instead leads with the DP World Tour. Rory McIlroy backed chief executive Guy Kinnings' claim that LIV aimed to destroy the European circuit, and Kinnings cited a reported $7bn in spending. The Guardian's headline still reports the collapse of the relaunch. Alternative outlets CNBC and ESPN largely match the right on the withdrawal, with CNBC adding the liquidation hearing.