LIV Golf Plans Wind-Down After Restructuring Deal Fails

NEW YORK — LIV Golf announced Thursday that it plans to wind down operations after a proposed restructuring deal failed.

According to LIV Golf, its agreement with BC Partners Advisors ended because the parties could not resolve the remaining terms. As a result, the proposed transaction is not expected to proceed.

The agreement supported LIV’s plan to continue operating under new ownership. Instead, the company is shifting from rebuilding the business to winding down operations.

LIV and its affiliated companies filed for Chapter 11 bankruptcy protection Sept. 8 in the U.S. Bankruptcy Court for the District of New Jersey. At the time, LIV said it aimed to preserve the business through a player-focused ownership model.

An Oct. 15 court order subsequently authorized the companies to proceed under an amended restructuring agreement, according to court documents. A term sheet attached to that order outlined $300 million in proposed financing through debt and preferred equity.

In addition, participating players would receive a 52.5% common-equity stake, subject to adjustments and new player agreements.

That structure would give players an ownership interest in the reorganized business. However, those provisions depended on completing the transaction. The order therefore did not establish that investors had provided the financing or that ownership had changed.

Under the proposal, LIV targeted an exit from bankruptcy in early 2027, pending court and stakeholder approvals. The company now plans an orderly wind-down because the proposed rescue transaction failed.

According to its announcement, the bankruptcy timeline allowed for that outcome if the parties could not reach an acceptable restructuring deal.