LIV Golf to wind down after financial support falls through

LIV Golf is set to announce on Thursday that it will wind down its operations after a private financing firm withdrew its financial support. The BBC reported that the decision came after the proposed venture failed to attract enough professional golf players. [1]

The venture had hoped that BC Partners Credit would provide up to $300 million, or £223 million, in financing for a redesigned league known as LIV 2.0. However, the BBC reported that BC Partners decided it was no longer viable to pursue the deal. Leading players including Jon Rahm and Sergio Garcia had already departed the league prior to the decision. [1]

The latest financial setback follows earlier difficulties for the league. According to the BBC, Saudi Arabia's Public Investment Fund withdrew its backing from LIV Golf in April, which led to the competition filing for bankruptcy protection in September. [1]