LIV to wind down after backers withdraw support
Summary
LIV Golf is expected to wind down after BC Partners Credit decided not to finance a proposed new version of the league. The decision followed the withdrawal of Saudi Arabia’s Public Investment Fund and came as LIV faced a deadline to secure enough player support to continue in 2027.Key Facts
- BC Partners Credit had considered providing up to $300 million for a proposed league called LIV 2.0.
- The Public Investment Fund withdrew its backing in April and later provided a loan to fund LIV’s restructuring process.
- LIV filed for bankruptcy protection in September.
- People working on LIV 2.0 had secured commitments from co-investors and had about 30 players signed up, including major winners, according to BBC Sport.
- Sources said the group could not meet the timelines or secure the agreements needed to proceed.
- The expectation is that the Public Investment Fund will tell a court on Thursday that the LIV 2.0 proposal is not viable.
- Lee Westwood said he had not received a LIV 2.0 proposal he found agreeable.
Read the Full Article
This is a fact-based summary from The Actual News. Click below to read the complete story directly from the original source.
