LIV Golf secures potential $300m investment

LIV Golf has secured a possible $300m in financing from BC Partners Credit in order to try to move forward with the 2027 season.

The league filed for Chapter 11 bankruptcy protection in the United States in September after Saudi Arabia withdrew its multibillion-dollar funding, starting a court-supervised "restructuring process" that they hope to complete in early 2027.

It is unclear how much of the $300m LIV requires to start next year's schedule and which players will start the season.

The competition's participants are owed at least $45m (£33m) and have the option to leave.

However the agreement secures an extension for the league to discuss terms with its players, with talks now open until 25 October.

BBC Sport understands there is no obligation on players to sign on to LIV 2.0, regardless of whether they had previously signed multi-year contracts with LIV Golf.

League insiders see the committed investment as a "significant" step forward in the court-supervised restructuring process.

"Our goal is to facilitate LIV Golf's emergence from the restructuring process on sound financial footing and with renewed momentum heading into the 2027 season," said Ted Goldthorpe, partner and head of BC Partners Credit, in a statement.

The credit firm, which provides financing to middle-market companies, said the funding would support the next phase of LIV Golf, under which players would become equity owners of both the league and its teams.

The financing remains subject to bankruptcy court approval and customary conditions.

"This investment is an important step forward for LIV Golf," said LIV Golf CEO Scott O'Neil in a statement.

"We're delivering on our major milestones, and while there is still work ahead, today marks meaningful progress toward a player-owned, team-focused, truly global league that complements the wider game and creates new opportunities for players, fans, partners, and the next generation of golfers."

Since LIV's controversial launch in 2021, more than $5bn (£3.7bn) has been spent by Saudi Arabia's Public Investment Fund (PIF), with major winners including Jon Rahm and Bryson DeChambeau lured by lucrative contracts and vast prize money.

However, the future of the concept - and its star players - has been shrouded in uncertainty, with the 2026 season having ended early.

Documents in the petition outline money owed to LIV Golf's creditors with the 30 largest unsecured claims.

Two-time major winner Rahm tops that list with an unsecured claim of $7.5m (£5.5m).

DeChambeau ($5.7m - £4.2m), Dustin Johnson ($5.5m - £4.1m), Cameron Smith ($4.8m - £3.5m) and Tyrrell Hatton ($3.4m - £2.5m) are also among the top 30 creditors, as well as Brooks Koepka, who left to rejoin the PGA Tour in January but has an unsecured claim of $1.7m (£1.25m).

The total amount owed to the 14 current and former LIV players in the top 30 creditors is just over $45m (£33m).

A source familiar with the figures told BBC Sport the creditors list outlines the "amount owed and not paid for Q3" of 2026, not the full amounts.

Chapter 11 protection postpones a US company's obligations to its creditors, giving it time to reorganise its debts or sell parts of the business.

PIF is providing a bankruptcy loan of $49.6m (£36.6m) - called 'debtor in possession' (DIP) financing - to help fund the process.