LIV Golf has secured a commitment for potential financing of up to $300m from BC Partners Credit as it seeks to continue into the 2027 season, although the arrangement remains subject to bankruptcy court approval and customary conditions.
The proposed funding is a significant step in LIV’s court-supervised restructuring, but it does not settle which players will compete next season or how much of the possible $300m the league will need to start its programme. BBC Sport reported that the agreement has also extended the period for LIV to discuss terms with players until 25 October.
LIV filed for Chapter 11 bankruptcy protection in the United States in September after Saudi Arabia’s Public Investment Fund withdrew its multibillion-dollar backing. The league has said it hopes to complete its restructuring early in 2027, while BC Partners Credit’s commitment is intended to support the next phase of that process.
Player decisions remain central to LIV’s plans
The extension gives LIV additional time to seek commitments from players for its proposed next iteration. BBC Sport and Sky Sports News both reported that players are not obliged to remain with the competition, including those who had previously agreed multi-year contracts.
That leaves the make-up of the 2027 field unresolved. BBC Sport reported that LIV participants are owed at least $45m, while the broadcaster said the 14 current and former LIV players listed among the 30 largest unsecured claims are owed just over $45m in total.
Jon Rahm was listed with an unsecured claim of $7.5m, according to BBC Sport. Bryson DeChambeau, Dustin Johnson, Cameron Smith and England’s Tyrrell Hatton were also among the players named in the list. The BBC reported that a source familiar with the figures said the claims represented money owed and unpaid for the third quarter of 2026, rather than the full sums due to those players.
Sky Sports reported that Hatton’s claim was £2.5m, while former LIV player Brooks Koepka, who returned to the PGA Tour earlier this year, was listed with a £1.25m unsecured claim. Those figures underline why negotiations over the league’s future structure matter beyond merely filling places in a field.
Equity proposal forms part of restructuring
BC Partners Credit said the funding would support a model in which players could become equity owners in both the league and their individual teams. Ted Goldthorpe, the firm’s partner and head of credit, said the objective was to help LIV emerge from restructuring on sound financial footing and with renewed momentum for 2027.
He also said the proposal was intended to give players a meaningful stake in the competition and its teams. LIV chief executive Scott O’Neil described the investment as an important move forward and said the league was making progress towards a player-owned, team-focused and global model.
Those statements set out the ambition behind the agreement, rather than a completed change in ownership. The court has yet to approve the financing, and the player discussions remain open until 25 October. Sky Sports reported that a hearing had been scheduled for 14 October to consider approval of the deal.
The immediate value of the commitment is therefore time as well as funding. LIV has a prospective financial backer while it tries to complete restructuring and persuade players to take part in its proposed new model. Yet the central competitive questions remain unanswered: which players will commit, whether the funding receives approval, and what the 2027 competition will finally look like.
For now, the announcement offers LIV a route to continue planning rather than confirmation that its next season is secured. The outcome of the financing process and the negotiations with players will determine whether the proposed player-ownership structure becomes the basis for LIV’s return in 2027.