LIV Golf ends operations after failing to secure funding for LIV 2.0
LIV Golf announced it will wind down operations and file a new bankruptcy plan after failing to get financial support for its 2.0 model in a U.S. Bankruptcy Court hearing on Thursday.
League shuts down LIV 2.0 plans
An attorney representing the organization told Judge Michael B. Kaplan that the league could not bring key parties to a fully consensual arrangement. The group stated it is now toggling to a value-maximizing winddown of its business instead of proceeding with the new version.
Financial backing and player support missing
The league spent more than $5 billion over five years without securing the necessary investment to launch in 2027. Reports indicate that BC Partners cancelled their plan to finance the circuit following a mass exodus of high-profile players.
CEO comments on global platform
LIV Golf CEO Scott O'Neil said building a global platform designed to bring new fans has been rewarding for the team. The organization remains open to considering any value-maximizing alternatives with third parties that may arise during the wind-down process.
2 outlets, different leads
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ESPN
LIV Golf to wind down operations after failing to get support for 2.0 model
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Sky Sports
LIV Golf scraps plans for 'LIV 2.0' and is 'winding down operations'
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2 independent outlets. Headlines as published. Links open the original report.