(Trenton, United States) – LIV Golf is abandoning its planned relaunch and moving toward liquidation after efforts to secure replacement financing failed, bringing the Saudi-backed challenger to professional golf’s established tours closer to an end.

Attorney Matthew Williams told a New Jersey bankruptcy court on November 5 that the organization was no longer proceeding with its proposed LIV 2.0 business. The Associated Press reported that the league would wind down rather than launch a new version in 2027.

The court announcement turns an uncertain rescue effort into a stated shutdown plan. Golfweek reported that the formal wind-down process is scheduled to begin Monday, November 9, with remaining assets to be sold. That does not mean the liquidation has already been completed.

The immediate setback was the collapse of a proposed US$300-million investment from BC Partners. The financing was intended to support a reworked league after Saudi Arabia’s Public Investment Fund decided it would not continue funding LIV beyond the 2026 season.

According to Golfweek, the proposed revival failed to attract enough player commitments. LIV subsequently confirmed in a statement that its restructuring support agreement with BC Partners had been terminated because the parties could not resolve outstanding terms. The proposed recapitalization is therefore not expected to proceed.

BC Partners said stakeholders had been unable to reach mutually acceptable terms, while thanking management and players who had supported the effort, Golfweek reported.

LIV began staging tournaments in June 2022, attracting prominent golfers with large signing payments. It spent more than US$5 billion before losing its original financial backing and entering bankruptcy proceedings in September, according to AP.

For Canadian golf followers, the development concerns the future competitive landscape rather than a tournament result or an individual player’s next move. The confirmed change is that LIV’s current rescue plan is no longer advancing. Its remaining assets and obligations will instead be addressed through the wind-down process, with further bankruptcy proceedings still ahead.

Sources