LIV Golf is once again on the brink, but now a $300 million lifeline from BC Partners Credit could save the league from ultimate collapse – if the stars don't jump ship first. This colossal financial package, equivalent to approximately £230–£240 million, is intended to relaunch LIV as “LIV 2.0” and fund the planned 2027 season.
The goal is to navigate the league out of Chapter 11 bankruptcy, stabilize operations, and provide a secure haven for the 10 planned tournaments, half of which are slated to take place outside the USA.
The Cash Injection – A Spark of Hope?
As part of the restructuring, players are expected to receive equity stakes in the league and their teams, aiming to make the 13 franchises more financially stable. While Saudi Arabia's Public Investment Fund has scaled back its billion-dollar support, it is still providing approximately $49.6 million in debtor-in-possession (DIP) financing during the bankruptcy proceedings. According to court documents, LIV players themselves are still owed at least $45 million. They also have until October 25th for negotiations – the original deadline was October 13th.
Rahm's Departure – Is an Exodus of Stars Looming?
Yet, even as money flows in, a major catastrophe looms: Jon Rahm, one of the biggest names and reportedly the largest creditor among the players, is on the verge of leaving. His lawyer described the terms for LIV 2.0 as “unacceptable” during a hearing. Sergio Garcia was also granted his departure, which immensely increases the pressure on LIV to retain enough key players to avoid complete commercial collapse.
Ted Goldthorpe of BC Partners viewed retaining key players as a manageable problem. However, Rahm's potential exit exposes the core issue: financing may keep LIV alive, but the league's true value still critically depends on player participation to attract audiences, sponsors, and team investments. This means the financing is a potential lifeline, but by no means a guaranteed safe return to harbor.
