LIV Golf will wind down operations after its proposed US$300 million rescue package collapsed, bringing plans for a 2027 relaunch to an end and placing the future of its Adelaide event in serious doubt.
The league confirmed the move during a US bankruptcy court hearing in New Jersey on Thursday, saying an orderly wind-down was now the most responsible course after financing from BC Partners Credit fell through. LIV will remain open to offers for its assets during the process.
The decision effectively ends the proposed LIV 2.0 model, although the liquidation process remains subject to further court proceedings.
Rescue Plan Falls Apart
LIV had been searching for a new financial model after Saudi Arabia’s Public Investment Fund announced it would stop backing the circuit beyond the 2026 season.
The PIF had poured more than US$5 billion into LIV since its launch before deciding the league no longer fitted its investment strategy. LIV subsequently filed for Chapter 11 bankruptcy protection in September.
BC Partners Credit then emerged with a proposal to provide up to US$300 million to support a 2027 season and a new player-ownership structure.
But the plan depended on securing enough players to make the revamped league viable.
That support did not materialise in sufficient numbers, with several leading players — including Jon Rahm — opting to leave as uncertainty around the circuit grew.
With the financing gone, LIV has now abandoned its attempt to relaunch.
Adelaide Event In Serious Doubt
The collapse has major implications for LIV Golf Adelaide, which had become one of the circuit’s most successful tournaments.
More than 115,000 fans attended the 2026 event, and the tournament was due to move from The Grange to Kooyonga Golf Club in March 2027.
South Australian Premier Peter Malinauskas said he could no longer see the tournament proceeding.
“It feels like it’s game, set and match as far as I can tell,” he said, adding that the event depended on LIV maintaining a field of sufficient quality.
Kooyonga said it had not received formal advice from LIV and was seeking clarification.
The club had previously gone to the bankruptcy court seeking certainty over the 2027 event after LIV failed to make an initial venue payment.
For New Zealand golf fans considering a trip across the Tasman, there was no confirmed event-specific cancellation or refund process at the time of the latest reports.
What Happens To The Players?
LIV’s wind-down leaves its remaining players needing to determine their own routes back into regular tournament golf.
Those pathways will differ depending on eligibility and the rules of the PGA Tour and DP World Tour.
Brooks Koepka has already returned to the PGA Tour through a pathway introduced earlier this year, while Patrick Reed has been pursuing his way back through DP World Tour results.
Others will now have to establish what opportunities remain available to them.
End Of A Disruptive Chapter
LIV Golf arrived in 2022 with enormous guaranteed contracts, major champions and a team-based format that challenged professional golf’s established structure.
Its rise prompted PGA Tour suspensions, legal battles and years of uncertainty across the sport.
A 2023 framework agreement between the PGA Tour and the Saudi fund raised the prospect of reconciliation, but a final commercial deal never materialised.
Now, after four seasons, the league that reshaped professional golf appears set to disappear.
The remaining questions concern the sale of its assets, the fate of its players and what becomes of events such as Adelaide.
But the central point is clear: LIV Golf’s proposed second chapter will not happen.
