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LIV Golf plans to shut down
NBC News • • world
Key Points:
- LIV Golf, the Saudi-backed breakaway golf tour, announced plans to wind down operations after failing to reach an agreement with financial backer BC Partners to continue funding.
- The league, launched in 2021 by Phil Mickelson and Greg Norman, attracted top golfers like Jon Rahm and Dustin Johnson with millions in guaranteed payouts but faced criticism for lacking competitive drama.
- Saudi Arabia’s Public Investment Fund invested over $5 billion since 2022, but LIV struggled to secure a long-term U.S. TV partner, limiting its visibility and revenue.
- LIV's creation caused significant division within professional golf, sparking conflict between LIV players and those loyal to the PGA Tour.
- A recent bankruptcy court hearing in New Jersey suggested LIV was seeking creditor relief, though the extent of its debts remains unclear.
