LIV Golf has confirmed it will wind down operations and enter liquidation rather than launch LIV 2.0, following a collapse in funding. A lawyer announced the decision in a New Jersey bankruptcy court, citing an inability to secure consensual support from key parties. Earlier this year, Saudi Arabia's Public Investment Fund withdrew, and BC Partners Credit, lined up as a backup backer, also pulled out of a deal exceeding $300m.
The league, originally launched by Greg Norman in 2022, struggled to maintain viability. Three-time champion Jon Rahm and other high-profile players have departed. The DP World Tour has warned players joining LIV 2.0 would be denied membership.
Only a few players publicly supported the new form. The future of the circuit remains uncertain as the wind-down process begins.
Source: Sky Sports Champions League · Summarized by HeadlinesBriefing