LIV Golf plans to wind down after ending a restructuring agreement with BC Partners Advisors L.P., operating as BC Partners Credit. A court declaration listed about $495 million in funded debt, plus unpaid interest, as of LIV’s Sept. 8, 2026, Chapter 11 filing.
In a statement Thursday, Nov. 5, the league said discussions ended without agreement on certain outstanding terms, so the proposed transaction would not go ahead at this time. LIV said it would continue considering proposals from other parties.
At a Nov. 5 hearing in the U.S. Bankruptcy Court for the District of New Jersey, LIV attorney Matthew J. Williams said the league was “not currently proceeding with the LIV 2.0 plan,” the Associated Press reported. LIV board special committee members Gene Davis and Jon Zinman described a wind-down as “the most responsible path forward” in the league’s statement.
LIV’s earlier restructuring proposal would have given players majority ownership and targeted an exit from Chapter 11 in early 2027, subject to court and stakeholder approval. The league filed for Chapter 11 protection on Sept. 8, 2026.
A sworn declaration by LIV’s chief restructuring officer said entities controlled by Saudi Arabia’s Public Investment Fund (PIF) had invested about $5 billion in LIV equity since its 2021 launch. The filing said PIF planned to stop further equity investments after the 2026 season, while providing a secured loan to cover the rest of that season. It listed the funded debt, plus unpaid interest, under a secured PIF facility.
The declaration said LIV attracted players by guaranteeing compensation and paying for access to their sponsorship rights, while still needing substantial new funding to break even. It also identified long-term player contracts and vendor obligations as significant unsecured liabilities; creditor recoveries have not been confirmed.
NBC Sports reported that a wind-down was expected to begin Monday, Nov. 9, and that a formal liquidation plan would require court approval. LIV’s Nov. 5 statement gave no final closure date and said it remained open to third-party alternatives.
