BC Partners Seeks to Revive LIV Golf

British investment firm BC Partners is attempting to build a new international league on the foundations of the bankrupt LIV Golf. The company plans to acquire a $50 million loan from Saudi Arabia's sovereign wealth fund.

By acquiring this loan, BC Partners would gain greater influence in the bankruptcy proceedings and would also be able to make use of LIV Golf's remaining assets and rights.

LIV Golf announced the cessation of its operations last week. The organization lost funding and several well-known players. Saudi Arabia's sovereign wealth fund, which had spent over $5 billion on the project since 2022, decided to stop further funding.

BC Partners had prepared up to $300 million for the 2027 tournaments, but the original plan fell through. Several players declined their contracts and demanded additional financial guarantees.

Source: Reuters