Report: LIV's financial backer dropping plan for new league in 2027
LIV Golf's financial backers have abandoned plans for a secondary league, 'LIV 2.0,' due to a lack of player support. The organization is now shifting its focus toward the liquidation of assets amid ongoing bankruptcy proceedings.
Why it matters
This marks a significant setback for the Saudi-backed golf venture, highlighting the difficulty of disrupting established sports ecosystems.
LIV Golf's main investor to help it emerge from Chapter 11 bankruptcy is scrapping plans for a new version because it lacked enough player support, The Financial Times reported Wednesday.
BC Partners Credit had pledged as much as $300 million for what was called “LIV 2.0,” which was planning at least 10 tournaments, an emphasis on teams and equity for players. LIV CEO Scott O'Neil had called the equity a “second bite of the apple.”
But that required enough players to sign up for LIV 2.0. Four players, including Brendan Steele and Cameron Tringale, publicly stated their support. LIV was believed to have as many as 30 players who were willing to stay with the league, but it was lacking the star power.
Headlinne story · 3 newsrooms
LIV Golf Relaunch Plan Collapses After Failing to Attract Enough Players
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