Nov 5 (Reuters) – LIV Golf, which shook up world golf in 2022, will liquidate after losing big-name players and last-ditch financing it needed to stay alive, the breakaway circuit said on Thursday.
Throughout the wind-down process, LIV Golf said it will remain open to, and continue to consider, any value-maximizing alternatives with third parties that may arise.
“In light of the current circumstances, we believe shifting toward an orderly wind-down is the most responsible path forward for the League at this time,” Gene Davis and Jon Zinman of LIV Golf Board’s Special Committee said in a press release.
LIV Golf had secured $300 million of potential financing from BC Partners to allow the staging of tournaments in 2027 but scrapped the plan after a number of notable players opted not to commit to the league going forward.
The future of LIV Golf had been in question after the circuit lost financial support from the deep-pocketed Saudi Arabia Public Investment Fund beyond the now-completed 2026 season.
(Reporting by Frank Pingue in Toronto and Jonathan Stempel in New York; Editing by Alex Richardson and Ed Osmond)
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