Overview
- BC Partners Credit has made an initial committed investment as part of a targeted $300 million financing package to help LIV emerge from Chapter 11, and the funding remains subject to bankruptcy‑court approval and customary conditions.
- The league filed for Chapter 11 after Saudi Arabia’s Public Investment Fund withdrew support, and court papers show LIV’s assets are listed at $100 million to $500 million against estimated liabilities of $500 million to $1 billion.
- Bankruptcy proceedings have allowed LIV to seek rejection of many pre‑bankruptcy player contracts, the court approved contract rejection generally except for Jon Rahm, and some players have separately sought clear termination language.
- Jon Rahm’s lawyer told the bankruptcy court that Rahm will not participate in the proposed LIV 2.0 and that the parties are negotiating a consensual separation with a November hearing set to resolve outstanding issues.
- The reorganized plan would give players a majority stake (reported at about 52.5%) and target a smaller 2027 schedule, but the relaunch’s viability now turns on enough players signing up by the extended Oct. 25 deadline and on creditor and judicial approvals.