Golf news: LIV Golf receives potential £300m investment boost
LIV Golf has been handed a potential financial uplift in preparation for 2027, thanks to an investment from BC Partners Credit, writes Sports News Blitz’s Jay Kennedy.
This investment comes from the private debt branch of the British investment firm, BC Partners.
Upon confirmation of the official funding, FOS reporter David Rumsey shared on X the official statement from LIV CEO Scott O’Neill.
O’Neill stated that “This investment is an important step forward for LIV Golf.”
Brand new funding
The official funding figure is believed to be $300m in finance, but it is uncertain how much of this will be necessary for the start of the 2027 season, under the new LIV 2.0 regime.
The investment is currently subject to court approval, with a hearing scheduled for October 14.
Both BC Partners Credit and LIV signed a term sheet last month, meaning that LIV are required to sign at least half of the players who are owed money.
With this potential investment, it means that players would also become equity owners of their teams and of the league itself.
State of bankruptcy
The brand new investment will also be a welcome relief due to the recent financial trouble that LIV has been rocked with.
This comes after LIV Golf filed for Chapter 11 Bankruptcy in September.
Following the filing of bankruptcy, it was soon declared by LIV that they had assets between $100m and $500m, in addition to declaring liabilities between $500m and $1billion.
As well as the bankruptcy situation, the golf tour currently owes debts to numerous players, including three-time individual season winner Jon Rahm.
The Saudi financial strains
However, the financial trouble did not start with the bankruptcy, as LIV was dealt an investment blow from their original investors, the Saudi Public Investment Fund, back in April.
The Saudi PIF withdrew their funding from LIV Golf, citing other financial commitments, such as the 2030 World Expo and the 2034 FIFA World Cup.
The PIF had been funding LIV ever since the idea of a new golf tour was brought to the table in 2020, which was launched as LIV Golf in October 2021.
It is believed that the Saudi PIF had invested over $5billion into LIV Golf from the debut 2022 season up until they pulled the plug on future investment six months ago.
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Impact on players
Nevertheless, the new investment should give LIV the kickstart it needs, but it does not mean that the entire roster will remain unchanged.
Despite the financial injection from BC, it is unclear how many players will start the 2027 season.
This is due to each LIV Golf player being owed at least £33m.
Each player is not legally obliged to sign on for the 2027 season, and does have the option to depart the tour.
Numerous players on the tour also have unsecured claims, meaning that they are still owed money due to being listed as creditors.
Former US Open and Masters champion Jon Rahm has unsecured credits of £5.5m, Englishman Tyrell Hatton has claims of £2.5m, and multi-major winner Brooks Koepka has claims of £1.25m, despite rejoining the PGA Tour at the start of the year.
Overall mood
The brand new financial boost is a clear ray of sunshine in a very grey and gloomy period for LIV Golf, especially in the last six months.
With all the uncertainties over bankruptcy, owed money, and the possibility that not all players may return for the 2027 season, LIV Golf will hope that the investment from BC Partners Credit is the key tool they need to revamp as LIV 2.0 for the upcoming season.
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