LIV Golf is reportedly looking at filing for bankruptcy protection and has brought on the services of BC Partners in case its LIV 2.0 proposal to players is not agreed to.
LIV Golf is reportedly mulling filing for bankruptcy protection as funding has significantly decreased following the Saudi Public Investment Fund (PIF) pulled its investment in April 2026.
The Financial Times reported current LIV players are expected to receive settlement offers as they are owed millions in guaranteed money.
According to people familiar with the matter, cited by The Financial Times, LIV has been working with private capital firm BC Partners to negotiate a funding package, with a ‘LIV 2.0’ proposal being sent to players.
The proposal would guarantee equity in LIV 2.0 as part of a pre-packaged bankruptcy which would also mean golfers would settle claims against the golf league.
However, a Chapter 11 bankruptcy filing could happen if LIV 2.0 does not get the support of enough players. This could also prove to be challenging if the DP World Tour upholds its ban on LIV players competing in LIV 2.0 that clash with DP World Tour events in 2027.
LIV 2.0 is being proposed as a revamped, slimmed-down version of LIV, consisting of 10 annual events but would require some tours, such as the DP World Tour and The PGA Tour, to accommodate its players.
Insider Sport has reached out to LIV Golf for comment.
The PIF will be involved in the process
The Saudi PIF was the primary financial backer of LIV Golf when it was established in 2022, with its deep pockets paying out billions upon billions of dollars to some of the sport’s greatest players, including Phil Mickelson and Jon Rahm.
Players who signed to LIV Golf, and ultimately breaking away from the PGA Tour, were guaranteed upfront salaries as well as bonuses from player and team performances. Mickelson and Rahm were reportedly set to earn $200m-$300m throughout their deals.
The PIF were also funding the annual events across the world in partnership with the golf clubs. When the PIF pulled its funding in April, it led to LIV Golf cancelling LIV Golf Michigan in August, and LIV Golf Louisiana in June.
PIF’s investment also extended to independent directors and professional advisors, according to The Telegraph, with some vendors at LIV Golf events reportedly suing the league over unpaid payments.
As part of the settlement package to the players, PIF has reportedly filed for a ‘debtor-in-possession’ of under $100m.
BC Partners is reportedly waiting for LIV Golf and PIF to resolve player payments and the subsequent settlements, as well as how the bankruptcy terms will be laid out if it reaches that point.
The Financial Times believes the capital management firm could invest $300m for LIV Golf’s assets and is considering an “equity-like” investment that would preserve the league’s net operating losses which totals to more than $5bn.
