THE BARE STORY
LIV Golf will wind down its business after its debtors abandoned a proposed reorganization plan, an attorney for the league told a New Jersey bankruptcy court on Thursday.
The league filed for Chapter 11 bankruptcy protection in September after Saudi Arabia’s Public Investment Fund said it would end its funding after the 2026 season. The fund had invested more than $5 billion in LIV Golf since its launch in 2022.
A proposed investment of up to $300 million from BC Partners Credit, intended to support a restructured league, did not proceed. BC Partners said stakeholders were unable to reach mutually acceptable terms. The proposed plan also did not secure enough player commitments, according to the earlier proposal.
LIV Golf’s shutdown follows several players’ departures or decisions not to join the proposed revamped format. The bankruptcy process will now move toward winding down the league’s operations.
Note: All TheBareNews content is AI-generated. For additional context, reporting, and updates, you are invited to explore the news outlets linked above.
