LIV Golf lands potential $300m investment

Dubai: LIV Golf has lined up a potential $300 million funding package from BC Partners Credit as the Saudi-backed series attempts to ensure it can begin its 2027 campaign.

The breakaway golf league entered Chapter 11 bankruptcy proceedings in the US in September after Saudi Arabia pulled its multibillion-dollar financial backing. The move triggered a court-led restructuring process that LIV hopes to complete early next year.

The precise amount of funding LIV needs to get the 2027 season underway remains unclear, as does how many of its current players will return.

LIV's golfers are collectively owed at least $45 million (£33m), while competitors also have the option of departing the league.

The proposed financing agreement does, however, give LIV additional time to negotiate with its players. The deadline for those discussions has now been extended to October 25.

BBC Sport reports players will not be required to commit to a proposed new version of LIV, known as LIV 2.0, even if they are currently tied to the competition by multi-year contracts.

BC Partners Credit said its proposed financing would help fund the next stage of LIV Golf's development, with the league planning to give players ownership stakes in both the competition itself and its individual teams.

The deal still needs to be approved by the bankruptcy court and remains subject to a number of standard conditions.

"This investment is an important step forward for LIV Golf," said LIV Golf CEO Scott O'Neil in a statement.

"We're delivering on our major milestones, and while there is still work ahead, today marks meaningful progress toward a player-owned, team-focused, truly global league that complements the wider game and creates new opportunities for players, fans, partners, and the next generation of golfers."

Saudi Arabia's Public Investment Fund (PIF) has poured more than $5bn (£3.7bn) into LIV since the league was launched in 2021, attracting major champions such as Jon Rahm and Bryson DeChambeau with substantial contracts and prize funds.

But doubts have increasingly surrounded the league's long-term future, as well as that of its biggest names, after the 2026 season was brought to an early conclusion.

Bankruptcy filings have revealed details of the money LIV owes to its creditors, including the 30 largest unsecured claims.

Rahm, a two-time major champion, has the largest claim among the group at $7.5m (£5.5m).

DeChambeau is owed $5.7m (£4.2m), followed by Dustin Johnson at $5.5m (£4.1m), Cameron Smith at $4.8m (£3.5m) and Tyrrell Hatton at $3.4m (£2.5m).

Brooks Koepka, who departed LIV in January to return to the PGA Tour, also appears among the 30 biggest unsecured creditors, with a claim worth $1.7m (£1.25m).

In total, the 14 current and former LIV players included among the top 30 creditors are owed slightly more than $45m (£33m).