LIV Golf is officially shutting down after five years of operation and an estimated $5 billion spent attempting to disrupt professional golf, according to court proceedings reported by The Athletic and The New York Times.
Wind-Down and Liquidation
During a 13-minute bankruptcy court hearing in New Jersey on Thursday, attorneys for LIV Golf announced a shift from restructuring to a full liquidation of the business. The league plans to begin winding down operations and selling off remaining assets, such as real estate and trademarks, starting Monday to pay off creditors.
The closure follows the withdrawal of BC Partners Credit, which had previously pledged $300 million to rescue the tour through a Chapter 11 bankruptcy filing after the Saudi Public Investment Fund (PIF) pulled back from funding in April. BC Partners sought to pivot LIV into a new financial model based on player equity rather than massive guaranteed contracts. However, the restructuring fell apart after an October 25 deadline passed without key players committing to the terms for the 2027 season, leading BC Partners to walk away from the deal.
Background and Impact
While the tour drew strong crowds internationally, it struggled to build consistent sponsorship revenue or rival traditional television audiences in the United States. Following the withdrawal of foundational financial backing and the failure of its final rescue effort, the divisive league's five-year run has come to an end.
