BC Partners will provide up to $300m to fund LIV Golf’s restructuring and 2027 relaunch, with players set to hold 52.5% equity under a court-led plan.
LIV Golf secured up to $300m in financing from BC Partners to fund its restructuring and planned 2027 return, according to documents filed in its Chapter 11 bankruptcy case.
LIV Golf filed for Chapter 11 bankruptcy protection in New Jersey on 8 September, LIV CEO Scott O’Neil confirmed. The filing named London-based BC Partners, through its credit division, as the lead investor O’Neil had referenced without naming in August.
The Public Investment Fund (PIF) of Saudi Arabia is providing a $49.6m loan to fund day-to-day operations through the bankruptcy process, the filing shows. PIF owns 100% of LIV Golf’s equity, but said in April it would end its funding of the league at the close of the 2026 season after investing more than $5bn since 2022.
LIV Golf listed between $500m and $1bn in liabilities and between $100m and $500m in assets, though of its top 30 creditors, 14 are players. Jon Rahm, Bryson DeChambeau and Dustin Johnson are the three largest unsecured creditors, each owed more than $5m.
What the BC Partners deal includes
BC Partners is prepared to provide up to $300m in total financing, covering the bankruptcy interim period and exit financing to support the league after it emerges. Minority investors may contribute part of the total.
BC Partners would own 45% of the reorganised league under the proposed structure, with players holding a combined 52.5% equity stake and league management 2.5%. A seven-person board would include three BC Partners designees, two from players and management, the CEO, and one independent member.
BC Partners would hold the right to buy one expansion team for $1 after two expansion teams are introduced, and it would receive 2% of league revenue for seven years if LIV reaches profitability.
LIV Golf’s future: conditional on player commitments
The transaction requires a set number of players to commit within 35 days of the filing, a deadline of 13 October, and the bankruptcy voids players’ existing LIV contracts, freeing them to leave.
Ducera Partners ran the investment process on behalf of LIV, O’Neil said. Two bidders submitted offers by LIV’s 22 July deadline, after which BC Partners was named the leading bid.
O’Neil described the restructuring as the start of “LIV Golf 2.0,” a player-majority-owned league targeting a return in early 2027. The plan expands fields to 75 players and introduces a cut and Monday qualifiers.
LIV concluded its 2026 season in Indianapolis in late August, a week early after cancelling its Michigan finale.
