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LIV Golf Is Shutting Down
Choked // Image by Kait Cunniff with DALL-E
LIV Golf, the upstart golf league into which Saudi Arabia poured $5 billion, is over for good.
Why It (Doesn’t) Hit: LIV Golf was Saudi Arabia’s most high-profile attempt at sportswashing — offering pro golfers vast sums of money and the chance to win even bigger championship purses in exchange for defecting from established circuits like America’s PGA Tour and Europe’s DP World Tour. But with Saudi Arabia seeing little return on its investment (a bit of a trend, tbh), even things that seem too big to fail can suddenly go belly up.
Between The Holes: For LIV Golf, it’s a swing and a miss.
The league filed for bankruptcy in September but said it was finalizing $300 million in funding from British firm BC Partners.
But when star players refused to sign a new equity agreement that would’ve significantly cut their salaries, BC Partners pulled out.
With last week’s deadline for players to sign on now passed, the league will dissolve and liquidate its assets to pay creditors… most of whom are the players themselves.
Final Swing: LIV Golf never found the momentum to make money… so the PGA Tour tried to pick up players while the league was on the downswing. It offered players a way back onto the tour, provided they accepted some financial penalties. Only one player, Brooks Koepka, took the offer.
Many top LIV players told WSJ they’d take that offer today… but it no longer appears to be on the table.
The Future: Many pro players who were making nine figures with LIV Golf will now be hitting smaller tours around the world to qualify for the PGA Tour. Expect some fun Challengers-style matchups throughout 2027.
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Today’s email was written by David Vendrell.
Edited by Nick Comney. Polled and Copy-edited by Kait Cunniff.
Published by Darline Salazar.
