LIV Golf Shuts Down Operations After $300 Million Rescue Deal Collapses

LIV Golf is winding down operations after five years that fractured professional golf. The Saudi-backed circuit announced the decision in a New Jersey bankruptcy hearing on Thursday, November 5, 2026.

The shutdown follows the collapse of a proposed $300 million rescue deal from BC Partners Credit. The investment was intended to support a restructured LIV 2.0 league planned for the 2027 season.

“The debtors are not currently proceeding with the LIV 2.0 plan. Instead, the debtors are toggling to a value-maximizing wind-down in their business.”

LIV Golf filed for Chapter 11 bankruptcy on September 8, 2026, after losing Saudi Arabia funding in April. The league had spent more than $5 billion since launching in June 2022 with nine-figure signing bonuses to attract top players away from the PGA Tour.

Players including Jon Rahm, Sergio Garcia, Tyrrell Hatton, and Louis Oosthuizen were not interested in the LIV 2.0 plan. About 15 players had previously committed to the restructured league, according to earlier reporting.

Rahm agreed to forfeit all claims against LIV, said to be worth some $100 million, to exit his contract. He has returned to playing the European tour, which currently imposes a one-year ban dating to players' last LIV appearance.

LIV Golf paid $15.6 million to retain seven executives between the Public Investment Fund withdrawal and the bankruptcy filing. That amount included $6.375 million to CEO Scott O'Neil. It remains unclear whether those payments can be voided now that liquidation is proceeding.

BC Partners said it supported a transaction aligning player and investor interests but could not reach mutually acceptable terms with stakeholders.