LIV Golf confirms shutdown after five years as funding plans collapse

Reports emerged earlier this week that the breakaway league was on the brink of collapse after its new investor, investment firm BC Partners, withdrew its funding support due to a failure to attract enough players in time.

The Saudi-funded circuit had been seeking up to $300 million in funding from BC Partners after Saudi Arabia's Public Investment Fund (PIF) withdrew its backing in April, forcing the league to file for bankruptcy protection in September.

The proposed investment would have helped LIV continue in a new format, known as LIV 2.0, but those plans have now fallen through, the league confirmed.

In a statement, LIV Golf said: "Since April 2026, the league's leadership team, with the support of its independent directors and advisors, has run a disciplined and thorough process to identify the best, value-maximising path forward for the company and its stakeholders.

"Despite extensive discussions, the relevant parties were ultimately unable to reach a consensual resolution of certain outstanding terms of the transaction contemplated by the Restructuring Support Agreement (RSA). As a result, the RSA has been terminated, and the transaction is not expected to move forward at this time."

A BC Partners spokesperson said: "BC Partners Credit supported a transaction that aligned the interests of players and investors, offering a credible path toward building a sustainable future for LIV Golf.

"While there was great support for the league, we are disappointed that mutually acceptable terms could not be reached among the various stakeholders."

A disclosure statement and wind-down plan will be filed by 9 November.

In a statement, LIV Golf CEO Scott O'Neil said: "Building a global platform designed to bring new, younger, and more diverse fans to the sport of golf has been the round of a lifetime for all of us. LIV Golf was fun, demanding, inspiring, at times challenging - but always rewarding.

"We created memories that I hope will inspire a new generation of fans to follow, play, and fall in love with this great game.

"Golf has given so much to so many, and my hope is that those entrusted with its future will lead with the generosity, perspective, and shared purpose this extraordinary game deserves."

LIV Golf's shutdown brings to an end one of the most controversial experiments in golf's history, with the Saudi-backed circuit spending five years challenging the established order by luring away top players through huge prize funds, guaranteed contracts, and a team-based format.

The league attracted several of the sport's biggest names but created a bitter divide in the professional game, triggering sanctions and a series of legal battles.

In 2025, LIV Golf staged a successful tournament at Steyn City in South Africa, which quickly established itself as a popular fixture but will now not return following the league's planned shutdown.