LIV Golf to shutter the league after failing to get support

LIV Golf has announced it will cease operations after struggling to secure the necessary financial backing and player support for its planned LIV 2.0 initiative. An attorney for the league informed a U.S. Bankruptcy Court that the decision to wind down was made after failing to reach a consensus among key stakeholders. The league plans to file a new Chapter 11 bankruptcy plan, indicating it has significant liabilities compared to its assets.

The closure follows a failed attempt by BC Partners to invest $300 million into LIV 2.0, as they could not finalize terms with other stakeholders. While there was some player commitment for the upcoming season, negotiations did not yield the support needed for the league's future. LIV Golf's management expressed disappointment over the inability to create a sustainable model, despite efforts to engage with players and investors throughout the process.