LIV Golf Bankruptcy Judge Approves $300M BC Partners Deal

A federal bankruptcy judge in New Jersey approved LIV Golf's restructuring agreement with BC Partners Global on Wednesday, a procedural step that keeps the league's bid to relaunch as LIV 2.0 alive after it lost funding from Saudi Arabia's Public Investment Fund.

What does the BC Partners agreement include?

U.S. Bankruptcy Court of New Jersey Judge Michael B. Kaplan approved the restructuring support agreement (RSA) between LIV Golf and BC Partners Global during Wednesday's hearing, which includes $300 million in cumulative financing. Under the term sheet, players would receive 52.5% equity ownership in the restructured league plus signing bonuses, while BC Partners and other investors would hold 45% and management 2.5%. Kaplan noted the approval does not guarantee a final reorganization plan — it mainly helps identify whether the league continues operating or winds down.

Why is LIV Golf accusing the DP World Tour of interference?

LIV's attorneys used part of the hearing to accuse the DP World Tour of interfering with its restructuring, after DP World Tour CEO Guy Kinnings told BBC Sport on Monday that the European tour would bar golfers who join LIV 2.0 from competing on its circuit. LIV attorney Robert Fitzgerald of Gibson Dunn told the court the timing "strikes us as a clear attempt to interfere with our process with our players." Kaplan said he was aware of Kinnings' comments and that they raised concerns of his own.

The policy would end conditional-release arrangements that previously let players such as Jon Rahm and Tyrrell Hatton compete on both the DP World Tour and LIV Golf while keeping their Ryder Cup eligibility. Those dual arrangements would not be permitted in 2027 if LIV 2.0 launches.

What happens to contracts for Bryson DeChambeau and other players?

Kaplan also approved LIV's motion to reject the existing contracts of 19 golfers, including DeChambeau and Dustin Johnson. LIV said those contracts do not reflect the compensation structure planned for LIV 2.0. The affected players had sought clarity on whether rejecting their contracts frees them to discuss their playing futures with other leagues or tours.

Approving a financing deal is not the same as guaranteeing LIV Golf has a future.

Which players have already left LIV Golf?

Jon Rahm's attorney told the court last week the two-time major champion will not join LIV 2.0 because he considers the proposed terms unacceptable. David Puig, Abraham Ancer and Adrian Meronk have also left in the same stretch.

The next bankruptcy hearing is set for Oct. 20. The RSA sets an Oct. 25 deadline for players to commit to LIV 2.0, though BC Partners can waive that date. LIV must sign a "requisite number of players" needed to continue as a functioning league, leaving BC Partners to decide whether enough top players have committed to move forward.