LIV Golf to Wind Down After Relaunch Plan Fails

League tells court it will wind down

November 5, 2026 · 2:32 p.m. Central / 3:32 p.m. Eastern

LIV Golf plans to wind down its business after failing to secure the financial and player support needed for a proposed relaunch, a lawyer for the league told a New Jersey bankruptcy court on Thursday.

Attorney Matthew Williams said the league was no longer pursuing the planned “LIV 2.0” and would instead shift to a wind-down intended to maximize value, The Associated Press reported. The league is moving into a liquidation phase; the process and its effects on creditors remain to be resolved. LIV confirmed that it intends an orderly wind-down of operations.

NBC Sports independently reported the shift after investor BC Partners withdrew its proposed backing.

Why the restart fell short

Saudi Arabia’s Public Investment Fund said in April it would stop financing LIV after the 2026 season, AP reported. The league filed for Chapter 11 bankruptcy protection on September 8, and its court filing identified the fund as its financial backer.

BC Partners Credit had pledged $300 million to support a restructured league. The firm said it was disappointed that the parties could not reach mutually acceptable terms, according to AP. The league’s lawyer said it had not secured enough combined financial and player support within the required time.

Chapter 11 proceedings can involve restructuring or an orderly wind-down. The proposed liquidation plan still requires approval, Golf Channel reported. The announcement does not mean every asset has already been sold or every debt paid.

What it means for players and the sport

LIV began play in 2022, attracting prominent golfers from the PGA Tour with large signing bonuses and a format featuring team competition and 54-hole events. Its arrival split men’s professional golf and raised questions about players’ access to established tours.

AP reported that Jon Rahm had agreed to give up claims against LIV to leave his contract and had returned to European tour events. The PGA Tour has a one-year ban dating from a player’s last LIV appearance, AP reported; a route back is not automatically the same for every player.

The next steps for players, staff and creditors depend on individual circumstances and the bankruptcy process. The reporting reviewed did not establish how much creditors will ultimately recover.

From launch to wind-down

Dates follow the cited reporting.

June 2022 LIV Golf launched its first season, according to AP.
April 2026 Its Saudi backer said it would stop financing the league after the season.
September 8, 2026 LIV filed for Chapter 11 bankruptcy protection.
November 5, 2026 A league attorney told a New Jersey bankruptcy court that the proposed restart would not proceed and the business would wind down.

ESPN’s court report

ESPN reported the league lawyer’s account on X after Thursday’s hearing. The post describes the same court development and is not a separate court record.