LONDON — LIV Golf have secured a possible $300m (£221m) in financing from BC Partners Credit as they attempt to move forward with the 2027 season, with the agreement providing a crucial extension for talks with players until 25 October.
The league filed for Chapter 11 bankruptcy protection in the United States in September after Saudi Arabia's Public Investment Fund (PIF) withdrew its multibillion-dollar funding, starting a court-supervised restructuring process they hope to complete in early 2027. Chapter 11 protection postpones a US company's obligations to its creditors, giving it time to reorganise its debts or sell parts of the business. PIF is providing a bankruptcy loan of $49.6m (£36.6m) — so-called 'debtor in possession' (DIP) financing — to help fund the process. It remains unclear how much of the $300m LIV requires to start next year's schedule and which players will start the season.
The financing remains subject to bankruptcy court approval and customary conditions, but league insiders see the committed investment as a "significant" step forward in the court-supervised restructuring. "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," said Ted Goldthorpe, partner and head of BC Partners Credit, in a statement. "This investment is an important step forward for LIV Golf," said LIV Golf CEO Scott O'Neil in a statement. "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."
The credit firm, which provides financing to middle-market companies, said the funding would support the next phase of LIV Golf, under which players would become equity owners of both the league and its teams. BBC Sport understands there is no obligation on players to sign on to LIV 2.0, regardless of whether they had previously signed multi-year contracts with LIV Golf. The competition's participants are owed at least $45m (£33m) and have the option to leave, with the agreement securing an extension to discuss terms with players.
Since its controversial launch in 2021, with its first season the following year, more than $5bn (£3.7bn) has been spent by PIF, with major winners including Jon Rahm and Bryson DeChambeau lured by lucrative contracts and vast prize money. However the future of the concept — and its star players — has been shrouded in uncertainty, with the 2026 season having ended early. Documents in the petition outline money owed to creditors with the 30 largest unsecured claims. Two-time major winner Rahm tops that list with an unsecured claim of $7.5m (£5.5m), followed by DeChambeau ($5.7m - £4.2m), Dustin Johnson ($5.5m - £4.1m), Cameron Smith ($4.8m - £3.5m) and Tyrrell Hatton ($3.4m - £2.5m), as well as Brooks Koepka, who left to rejoin the PGA Tour in January but has an unsecured claim of $1.7m (£1.25m). The total amount owed to the 14 current and former LIV players in the top 30 creditors is just over $45m (£33m). A source familiar with the figures told BBC Sport the creditors list outlines the "amount owed and not paid for Q3" of 2026, not the full amounts.