The four-year war between the PGA Tour and the Saudi-backed breakaway ended in a Trenton courtroom.
Matthew Williams, representing LIV Golf for law firm Gibson Dunn, confirmed the shutdown at a hearing in the US Bankruptcy Court for the District of New Jersey.
“The debtors are not currently proceeding with the LIV 2.0 plan. Instead, the debtors are toggling to a value-maximizing wind-down in their business,” Williams told the court.
BC Partners walks away from the deal
The relaunch had rested on a financing commitment of up to $300 million from private equity firm BC Partners Credit. That money was conditional on signing enough players to field a credible tour, with the firm said to require a starting field of 30 to 40 names.
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By last week, only four had publicly committed: Richard Bland, Cameron Tringale, Brendan Steele and Ben Campbell. None of LIV’s biggest names were on the list.
Bryson DeChambeau, Dustin Johnson, Cameron Smith and Joaquin Niemann all declined to re-sign for the relaunch. Jon Rahm, Tyrrell Hatton, Sergio Garcia and Louis Oosthuizen had already walked away from the reboot.
Saudi PIF cut the lifeline in April
Saudi Arabia’s Public Investment Fund, the money behind LIV since its 2022 launch, spent more than $5 billion on the project across four seasons. In April the fund informed LIV that it would stop funding the league after the 2026 season as part of a wider shift in its investment strategy.
With the state backing gone and no replacement lined up, the league filed for Chapter 11 bankruptcy protection on September 8. The last event under the old format was held in Indianapolis in August and won by Michael La Sasso.
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No clear road back for Rahm
The PGA Tour’s one-time Returning Member Program, created when Brooks Koepka crossed back in January, closed in February. According to Sky Sports, Koepka’s deal involved a $5 million donation to charity and a five-year exclusion from the tour’s equity program.
Rahm, who announced his LIV exit on October 7, told Sky Sports he wants to play in the United States in 2027 but is not sure the door is still open, saying he seriously doubts he will be offered the same terms as Koepka, but would accept identical penalties if they came.
Rahm said he will spend 2027 on the DP World Tour until his pathway back to the PGA Tour becomes clear.
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