LIV Golf to Wind Down After Five Years as LIV 2.0 Rescue Collapses

LIV Golf is set to wind down after five years, ending the Saudi-backed league that split men’s professional golf. The league confirmed this week that its plan to relaunch as “LIV 2.0” had collapsed after its new investor pulled out. Its remaining assets are now heading for an orderly wind-down through a US bankruptcy court.

The news brings a dramatic chapter in the sport to a close. Since 2022, LIV has lured major champions with huge contracts and prize money. In turn, it sparked bans, legal fights and bitter divisions across the game.

Why LIV Golf will wind down

LIV’s future had been in doubt since Saudi Arabia’s Public Investment Fund (PIF) pulled its funding in April. The league then filed for bankruptcy protection in September. It hoped to return in a new form. The plan included a shorter schedule, lower prize money and equity stakes for players.

The credit arm of investment firm BC Partners had offered a potential $300 million in financing. However, BC Partners pulled out this week, mainly because it was unhappy with which players had committed, BBC Sport reported.

At a bankruptcy court hearing in New Jersey, LIV lawyer Matt Williams said the league was “not currently proceeding” with LIV 2.0. He told the court the league could not reach the “combined financial and player support necessary” for a viable relaunch in time.

He added that the wind-down was “the best path to maximise value for stakeholders”. Even so, he said the league’s strategic committee could revisit the decision if circumstances change.

What happens next

According to BBC Sport, LIV must file a wind-down plan and disclosure statement by 9 November. A lawyer for PIF told the court the fund respected the decision. He said the fund wanted the process finished in an orderly way before the year ends.

In addition, LIV said it remains open to “value-maximizing alternatives” with third parties during the process, The Express Tribune reported. Bankruptcy filings showed the league owes between $500 million and $1 billion. Its creditors number at least 1,000 and include star players.

In a statement, chief executive Scott O’Neil said building the league “has been the round of a lifetime for all of us”. He added that LIV had been “fun, demanding, inspiring, at times challenging – but always rewarding”.

Players already walking away

Meanwhile, the player exodus had been growing for months. Jon Rahm and Sergio Garcia left in recent weeks. Ian Poulter, Tyrrell Hatton and Graeme McDowell had also departed, BBC Sport said.

Bryson DeChambeau, arguably LIV’s biggest name, had not publicly committed to the new version. He said he hoped the league would “exist forever”. Pressure also came from Europe. The DP World Tour had warned that players signing for LIV next season could not hold European tour membership in 2027. In turn, that would have ruled them out of the Ryder Cup.

Reaction across golf

The collapse is widely seen as a boost for the US-based PGA Tour. Yet former LIV player Lee Westwood warned it may not help Europe’s tour as much as expected.

“The European tour, I’m not sure it’s such a big win for them,” Westwood told BBC Sport on Friday. He argued that the PGA Tour may now “play hardball” in talks over its funding alliance with the DP World Tour.

Rory McIlroy, a leading critic of LIV, has agreed with DP World Tour chief Guy Kinnings that LIV aimed to “destroy” the European circuit. For fans, the bigger question is how quickly top players can return to the main tours. Some may face suspensions before they can compete again.

A costly experiment

PIF spent more than $5 billion on LIV, BBC Sport reported. Its final event was held in Indianapolis in August. Although it brought new team formats and fresh money into golf, it never secured lasting stability.

Now, attention turns to the wind-down plan and to the players still owed money. Their next moves will shape the men’s game in 2027 and beyond.