LIV Golf future doubt grows as BC Partners pulls backing
LIV Golf’s bid to relaunch its league is in doubt after BC Partners reportedly withdrew its support, citing a lack of player commitments. The league is also…
LIV Golf’s relaunch is in doubt after BC Partners reportedly withdrew its financial backing on November 5, 2026, leaving the league without a replacement for Saudi Arabia’s Public Investment Fund. The decision also puts its planned tournament at Kooyonga Golf Club next year in question.
The league filed for bankruptcy protection in New Jersey in September as part of a restructuring. South Australia Premier Peter Malinauskas said media reports indicated LIV’s future in the state was over, though he had not received official confirmation from the league.
That uncertainty reaches beyond the league’s finances. LIV has staged four annual tournaments in Adelaide since 2023, and had been expected to return to Kooyonga next March. Malinauskas said the state would not pay for an event that failed to match the standard of previous tournaments.
“I haven't had any official confirmation from LIV themselves, but I saw a report this morning, and it feels like it's game, set and match as far as I can tell,” Malinauskas told 891 ABC Adelaide.
He said the state’s contractual payments depended on an event taking place. “We don't pay for anything we don't get,” he said, adding that the Kooyonga tournament next year appeared unlikely to go ahead.
Why is LIV Golf future doubt growing?
BC Partners’ reported withdrawal followed a failure to secure enough player commitments for a proposed tournament series in 2027. The private capital firm had made an initial investment in October, offering up to $300 million in financing to help LIV emerge from restructuring and strengthen its finances ahead of that season.
The league had already lost the backing of the Public Investment Fund, which invested more than $US5 billion ($7 billion) in LIV since its launch in 2022. The fund announced it would end financial support after the 2026 season, forcing LIV to seek a new backer.
Player support is central to whether the relaunch can proceed. The reported shortfall comes as several high-profile golfers have left LIV since its bankruptcy filing, including former world number one Jon Rahm.
LIV’s model previously drew leading players away from the PGA Tour with lucrative contracts. Phil Mickelson, Bryson DeChambeau, Brooks Koepka and Dustin Johnson were among those who joined the league.
DeChambeau recently said LIV’s proposed business model for its next phase “makes a lot of sense” and that he hoped it would last “forever.” But Rory McIlroy criticized the league’s effect on professional golf, telling reporters ahead of the Abu Dhabi Championship that LIV had taken players and sponsors and turned the sport into “an arms race.”
What happens to the Adelaide event?
Malinauskas said the state government would not pay if the event did not go ahead or did not represent the calibre of earlier tournaments. He added that officials would seek advice on other arrangements, while saying the tournament planned for Kooyonga appeared unlikely to proceed.
LIV is expected to appear at a hearing on Thursday, local time, in US bankruptcy court in Trenton, New Jersey. The hearing is set to address various contracts, leases and assets; whether it will consider the league’s ultimate future remains unclear.
The reported withdrawal leaves LIV facing a near-term test: securing enough players and determining how it can continue after the Public Investment Fund’s backing ends following the 2026 season.
