LIV Golf shutdown imminent? New financial backer pulls funding from fledging league

Just over six months after losing its original financial backer, LIV Golf has reportedly seen its potential savior fall by the wayside as private capital firm BC Partners has decided to drop its bid to keep the league running. BC Partners had previously committed upwards of $300 million to keep LIV Golf afloat with the circuit aiming to reinvent itself in the wake of Saudi Arabia's Public Investment Fund deciding to no longer finance the upstart league that once aimed to put the PGA Tour out of business.

While approximately 15 players had expressed interest in "LIV Golf 2.0," BC Partners decided to pull the funding it had originally committed in August, believing there are not enough golfers — nor enough notable names — attached to the project to keep the league viable, according to The Athletic and the Financial Times. The capital firm was expecting at least twice as many player commitments.

LIV Golf now may have no choice but to liquidate its assets and shutter the league entirely.

The PIF previously invested approximately $7 billion total to start LIV Golf, fund outsized player contracts (some of which reached nine figures) and keep the league running for five seasons.

Original source: https://www.cbssports.com/