BC Partners Pulls Out of $300 Million LIV Golf Financing Deal

BC Partners is walking away from its agreement to invest $300 million in LIV Golf, and the breakaway league is now likely headed toward liquidating its assets barring a last-minute buyer, sources told ESPN.

The London-based investment firm had planned to replace Saudi Arabia's Public Investment Fund as LIV Golf's primary financial backer. ESPN reported Wednesday that BC Partners pulled out after the league failed to lock down enough commitments from its top golfers for the 2027 season.

Why Did BC Partners Walk Away From LIV Golf?

A source told ESPN that LIV Golf had reached what it considered a critical mass of players willing to compete next season, but negotiations with those golfers dragged on. BC Partners cut off the deal once talks stalled, according to the sources cited by ESPN.

The firm's exit removes the financial backstop LIV Golf was counting on to operate independently of the PIF, which has bankrolled the league since its 2022 launch. Without a replacement financier, ESPN's sources said liquidation of league assets is the likely outcome unless another buyer emerges.

How Many Players Had Committed to LIV Golf for 2027?

According to the source cited by ESPN, roughly 30 players had pledged to compete in LIV Golf next season, with another 10 still weighing their options. Publicly, only a small number of golfers had confirmed plans to play in what the league was positioning as "LIV 2.0," and ESPN reported that list did not include any of the league's marquee names.

That gap between private commitments and public confirmations appears to have factored into BC Partners' decision, per ESPN's reporting.

Which Stars Are Leaving LIV Golf for the DP World Tour?

ESPN reported that several of LIV Golf's biggest names have already said they will not return. Jon Rahm, Sergio Garcia, Tyrrell Hatton and Ian Poulter are among the players who told ESPN they are moving to the DP World Tour next season instead of staying with LIV.

Rory McIlroy, who has been a frequent critic of the league since its founding, has said LIV's early ambitions went beyond simply building a rival tour.

"LIV Golf said they wanted to destroy the European Tour," McIlroy told ESPN.

Garcia's departure was confirmed in a separate ESPN report on his move back to the DP World Tour, underscoring the pattern of top-tier defections ESPN has tracked in recent weeks.

What Happens to LIV Golf's Bankruptcy Filing?

ESPN has also reported that LIV Golf has filed for bankruptcy protection, with players including Rahm and Bryson DeChambeau owed money by the league, according to ESPN's coverage. The financing collapse with BC Partners compounds that filing, since it eliminates the capital infusion the league needed to stabilize its finances and pay outstanding obligations to players.

ESPN has not reported a specific repayment timeline or total amount owed beyond naming Rahm and DeChambeau as creditors in its coverage of the bankruptcy filing.

What's Next for LIV Golf Without a Financier?

Barring a new investor, ESPN's sources said LIV Golf is likely to move toward liquidating its assets. The league was created in 2022 with PIF money and built around guaranteed contracts and team-based events that drew top players away from the PGA Tour. BC Partners' planned $300 million investment was meant to diversify the league's ownership structure away from sole dependence on the Saudi fund.

With that deal now dead and top talent departing for the DP World Tour, LIV Golf's path forward depends on whether another financial backer steps in before asset liquidation becomes final. ESPN has not reported a timeline for when that outcome would be decided.

Meanwhile, Rahm has told ESPN he would be willing to accept penalties for a potential return to the PGA Tour, a sign that some LIV defectors are already looking past the league's uncertain future.