Investment firm BC Partners pulls out of financing for LIV Golf's planned relaunch
The firm had planned up to $300 million for a 2027 relaunch, and LIV, already in bankruptcy, is expected to seek liquidation.
BC Partners is pulling out of a deal to finance a relaunched LIV Golf, known as LIV Golf 2.0, according to reports on Wednesday, Nov. 4. Breitbart, citing the Financial Times, says the financing was for up to $300 million. The Daily Caller, citing ESPN, also gives $300 million.
LIV filed for Chapter 11 bankruptcy protection in September, on Sept. 8 according to Breitbart. That followed an announcement by Saudi Arabia's Public Investment Fund that it would end its funding once the 2026 season is over. The league did not gather enough player support before the bankruptcy case's deadlines.
A source familiar with the matter told Axios that at least 30 players showed interest, but some of their representatives had not settled on economic terms. Jon Rahm and Sergio Garcia have left the league. Axios says people involved in the case expect LIV to turn to a liquidation.
The Daily Caller, citing ESPN, says that is the likely outcome unless a buyer steps in at the last minute. The Daily Caller says a hearing before Judge Michael B. Kaplan is set for Thursday. Breitbart says the next move of Bryson DeChambeau, one of LIV's biggest names, remains unclear.
- $300 million financing BC Partners had planned for LIV Golf 2.0, per ESPN as cited by the Daily Caller — Daily Caller
- at least 30 players who indicated interest in the new league, per a source cited by Axios — Axios
- more than $5 billion Saudi fund's total investment in LIV, according to Money in Sport cited by Axios — Axios
- at least 10 tournaments planned for the 2027 relaunch, per Breitbart — Breitbart News
Three sides of the story
Liberal1 outlet
LIV's end after Saudi funding withdrew
Axios is headlined "LIV Golf collapse imminent" and says efforts to keep the league alive have collapsed. It explains the background first: the September Chapter 11 filing and the Saudi investors' plan to withdraw funding after the 2026 season. A source familiar with the matter confirmed BC Partners is walking away from its "LIV 2.0" plan.
That source says at least 30 players showed interest, but financial terms remained an obstacle with some players' representatives. Axios adds that people involved in the case expect a liquidation. It links the Saudi fund's exit to the Iran war's effect on Middle East politics and energy prices.
It quotes the fund saying a substantial longer-term investment is "no longer consistent with the current phase of PIF's investment strategy." It sets critics who called LIV "sportswashing" against defenders such as Phil Mickelson, and says to watch what Bryson DeChambeau does next.
- Axios: LIV Golf collapse imminent
Center1 outlet
BC Partners exits the LIV 2.0 financing
Forbes headlines the story as a "Major Setback" for LIV 2.0 and reports that BC Partners is pulling out of its financing deal with LIV Golf.
Conservative2 outlets
LIV loses $300 million, with a possible shutdown
Breitbart News leads with LIV losing $300 million in funding as a "Potential Looms." It relays the Financial Times report that the lending arm of BC Partners withdrew from up to $300 million in financing, and that LIV is expected to seek liquidation. It adds detail on the relaunch plan, including the team format, player ownership stakes and at least 10 tournaments.
It cites the Associated Press on the DP World Tour's ineligibility warning and notes jokes on X. The Daily Caller calls it a "Major Blow" and relies on ESPN's sources, who say LIV is likely headed to liquidation without a last-minute buyer, and that around 30 golfers had committed with another 10 contemplating. It notes that Garcia, Rahm, Ian Poulter and Tyrrell Hatton said they will play the DP World Tour in 2027. It points to Thursday's hearing before Judge Michael B. Kaplan.
Which side made the stronger case?
All sources: 4 articles from 4 outlets
Liberal (1)
- Axios: LIV Golf collapse imminent
Center (1)
Conservative (2)
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