LIV Golf obtains potential $300 million investment

LIV Golf has secured a possible $300 million in financing from BC Partners Credit to advance plans for the 2027 season. The league filed for Chapter 11 bankruptcy protection in the United States in September after Saudi Arabia withdrew its multibillion-dollar funding, initiating a court-supervised "restructuring process" expected to conclude in early 2027.

It remains unclear how much of the $300 million is required for next year’s schedule and which players will be participating. The competition's participants are owed at least $45 million (£33 million) and have the option to leave. However, the agreement allows an extension for the league to negotiate terms with its players, with discussions open until October 25.

According to sources, players are not obligated to commit to LIV 2.0, even if they previously signed multi-year contracts. League insiders regard this committed investment as a "significant" step toward the restructuring process. "Our goal is to facilitate LIV Golf's emergence from the restructuring process on sound financial footing and with renewed momentum heading into the 2027 season," stated Ted Goldthorpe, partner and head of BC Partners Credit.

The credit firm, known for financing middle-market companies, indicated that the funding would help support the next phase of LIV Golf, which proposes that players become equity owners of the league and its teams. This financing is still pending bankruptcy court approval and certain customary conditions.

"This investment is an important step forward for LIV Golf," said LIV Golf CEO Scott O'Neil. "We're delivering on our major milestones, and while there is still work ahead, today marks meaningful progress toward a player-owned, team-focused, truly global league that complements the wider game and creates new opportunities for players, fans, partners, and the next generation of golfers."

Since LIV's controversial launch in 2021, over $5 billion (£3.7 billion) has been invested by Saudi Arabia's Public Investment Fund (PIF), attracting notable players such as Jon Rahm and Bryson DeChambeau with lucrative contracts and prize money. Nonetheless, the future of the league and its star players is uncertain, especially after the 2026 season ended prematurely.

Documents from the bankruptcy petition detail the debts owed to LIV Golf’s creditors, highlighting the 30 largest unsecured claims. Jon Rahm, a two-time major winner, leads this list with an unsecured claim of $7.5 million (£5.5 million), followed by Bryson DeChambeau at $5.7 million (£4.2 million) and Dustin Johnson at $5.5 million (£4.1 million). Cameron Smith and Tyrrell Hatton also feature prominently, along with Brooks Koepka, who left to rejoin the PGA Tour in January but has an unsecured claim of $1.7 million (£1.25 million). In total, the 14 current and former LIV players owed money in the top 30 creditors are collectively owed just over $45 million (£33 million). A source familiar with the situation explained that the creditors list outlines the "amount owed and not paid for Q3" of 2026, not the full amounts.

Chapter 11 protection allows a U.S. company to defer its obligations to creditors while it reorganizes its debts or sells parts of the business. PIF is also providing a bankruptcy loan of $49.6 million (£36.6 million), referred to as 'debtor in possession' (DIP) financing, to facilitate the restructuring process.