BC Partners Abandons 300 Million Dollar LIV Golf Deal

LIV Golf faces possible liquidation after BC Partners withdrew from a planned 300 million dollar investment, leaving the breakaway golf league without its expected replacement for Saudi Arabia's financial backing. Sources told ESPN on Wednesday that the league could be forced to wind down its operations unless another buyer emerges at the last minute.

BC Partners had intended to replace Saudi Arabia's Public Investment Fund (PIF) as LIV Golf's primary financial backer. However, negotiations over player commitments reportedly stalled, prompting the investment firm to abandon the agreement.

According to a source who spoke to ESPN, LIV Golf had secured commitments from approximately 30 players for next season, while another 10 were still considering participation. Despite reaching that threshold, prolonged negotiations with golfers contributed to BC Partners pulling out of the deal.

Publicly, only a small number of players have confirmed plans to participate in the proposed LIV 2.0 competition. Several prominent golfers, including Jon Rahm, Sergio Garcia, Tyrrell Hatton and Ian Poulter, have indicated they will not return and instead intend to compete on the DP World Tour next season.

LIV Golf has not publicly provided an immediate response to the latest developments. An organization spokesperson did not immediately respond to ESPN's request for comment.

The league's financial difficulties follow the withdrawal of Saudi Arabia's Public Investment Fund. In April, the PIF announced that it would stop financing LIV Golf beyond the current season, despite having invested more than $5 billion in the competition.

That investment had helped LIV Golf attract leading PGA Tour players, including Jon Rahm, Bryson DeChambeau and Dustin Johnson. The league offered purses of $30 million and guaranteed contracts exceeding $100 million to recruit prominent golfers.

LIV Golf voluntarily filed for Chapter 11 bankruptcy protection on Sept. 8. According to its bankruptcy filing, the organization estimated its assets at between $100 million and $500 million, while its liabilities ranged from $500 million to $1 billion.

The league's financial position is expected to receive further scrutiny during a hearing scheduled for Thursday before U.S. Bankruptcy Court Judge Michael B. Kaplan. Additional details about its financial situation and future could emerge during the proceedings.

The Financial Times first reported on Wednesday that LIV Golf was shifting toward winding down its operations. BC Partners' withdrawal further undermines the league's efforts to secure alternative financing following the PIF's decision to end its support.