LIV and let die: Rival league tells bankruptcy court it will wind down operations

LIV Golf is shuttering after five years that fractured the sport s landscape with promise of Saudi riches, announcing Thursday in bankruptcy court it plans to wind down operations instead of launching a new version because it didn t have enough support. “The debtors are not currently proceeding with the LIV 2.0 plan,” attorney Matthew Williams of Gibson Dunn said in a hearing in New Jersey. “Instead, the debtors are toggling to a value-maximizing wind-down in their business. LIV Golf, which launched in June 2022 by offering nine-figure signing bonuses to lure top names away from the PGA Tour, lost Saudi Arabia funding in April after spending more than $5 billion. It filed for Chapter 11 bankruptcy on Sept. 8 and thought it had a lifeline in BC Partners Credit, which pledged a $300 million investment to pivot to a more financially sustainable “LIV 2.0.” But players like Jon Rahm and Sergio Garcia, Tyrrell Hatton and Louis Oosthuizen, weren t interested. “BC Partners Credit