LIV Golf has announced that it has secured $300m in financing from BC Partners Credit in order to try to move forward with the 2027 season.
The league filed for Chapter 11 bankruptcy protection in the United States in September after Saudi Arabia’s Public Invest Fund withdrew its multibillion-dollar funding, starting a court-supervised restructuring process that 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) – called ‘debtor in possession’ financing – to help fund the process.
It is unclear how much of the $300m LIV requires to start next year’s schedule and which players will start the season, with many having already begun competing on the DP World Tour with a view to earning back their full cards, while others are waiting for their PGA Tour bans to run their course.
The league’s leading playing are owed at least $45m and have the option to leave. However, the agreement secures an extension for the league to discuss terms with its players, with talks now open until October 25th.
It is being widely reported there is no obligation on players to sign on to LIV under its new backers, regardless of whether they had previously signed multi-year contracts with LIV Golf.
“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.
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. The financing remains subject to bankruptcy court approval and customary conditions.
“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.”