LIV Golf's BC Partners Deal Pushes Player Deadline to Oct. 25

LIV Golf and the private equity firm BC Partners formalized a restructuring support agreement on Monday, moving the breakaway league a step closer to emerging from bankruptcy with new ownership of its future tied directly to its players.

What does the BC Partners deal change?

The London-based firm is targeting $300 million in cumulative financing to fund a scaled-down "LIV 2.0," built around a 10-tournament schedule in 2027 with roughly half the events played internationally. The agreement, filed as part of LIV's Chapter 11 case, still needs court approval at an Oct. 14 hearing. LIV filed for bankruptcy protection on Sept. 8.

Players who commit to the new league would hold 52.5 percent of its equity, a central piece of BC Partners' pitch to keep talent on board. Ted Goldthorpe, BC Partners' credit head, made his first public comments on the investment this week, framing it as a bet on aligning players with the league's long-term future.

Why did the player deadline move?

The original agreement gave BC Partners until Oct. 13 to see a "requisite number of players" sign on, defined as both 50 percent of players with financial claims against LIV and commitments covering two-thirds of the money the league owes them. Monday's filing dropped those specific thresholds. The deadline is now Oct. 25, and "requisite players" is redefined as whatever number BC Partners decides is enough to keep LIV operating as, in the filing's language, a bona fide golf league. The practical effect is that BC Partners now has discretion over whether player buy-in clears the bar.

Where do the players stand?

Bryson DeChambeau has backed the LIV 2.0 plan, but commitment elsewhere is less certain. Sergio Garcia has asked the bankruptcy court to clarify whether his contract was terminated by the filing or remains his to end, and recent filings indicate he may be able to make that call himself. Joaquin Niemann, fresh off a win at the Chilean Open, said before that result he was still weighing whether to stay with LIV or pursue a path back to the PGA Tour through Europe, and that he had not decided whether league equity was worth it to him at this stage of his career.

LIV commissioner Scott O'Neil has spent recent months lining up outside funding, including the BC Partners commitment, after Saudi Arabia's Public Investment Fund stepped back from open-ended financing. O'Neil has said the war in the Middle East disrupted LIV's funding and forced a leaner business plan built around 10 events rather than a larger international slate.

A funding deal and a tax write-off can share the same signature.

The Public Investment Fund has reportedly raised concerns to BC Partners' rivals that the firm's interest is driven by tax benefits tied to LIV's losses rather than a plan to run a profitable league. Goldthorpe acknowledged the tax angle but disputed that it was the point. "We're all in on the LIV, and we're very committed to it," he said.

The next checkpoint is the Oct. 14 hearing, where a bankruptcy judge will decide whether to approve the restructuring agreement and the other motions tied to LIV's path forward.