LIV Golf shutting down after debtors bail and players head for exits

Updated on: November 5, 2026 / 3:30 PM EST / CBS/AP

LIV Golf is in the water hazard — forever. The bankrupt Saudi Arabia-backed venture, which shook up the professional golf world after launching in 2022, said Thursday that it is shutting down.

An attorney for LIV said in a New Jersey bankruptcy court that the fledgling golf league's debtors have decided against a proposed reorganization and will instead wind down the business.

Saudi Arabia's Public Investment Fund (PIF), which had bankrolled LIV, announced earlier this year that it would yank funding for the league after the 2026 season, ending its investment after sinking more than $5 billion into LIV since its launch, CBS Sports reported.

The league, which filed for Chapter 11 bankruptcy on Sept. 8, thought it had a lifeline in BC Partners Credit, which pledged a $300 million investment to pivot to a more financially sustainable "LIV 2.0."

But players like Jon Rahm and Sergio Garcia, Tyrrell Hatton and Louis Oosthuizen, weren't interested. Brooks Koepka, another major golf name that had signed with LIV, opted to return to the PGA Tour.

"BC Partners Credit supported a transaction that aligned the interests of players and investors, offering a…

Original source: https://www.cbsnews.com/moneywatch/