LIV Golf is shutting down. Lawyers for the breakaway league told a United States bankruptcy court on Thursday, 5 November, that it will abandon plans for a relaunched LIV 2.0 and move instead towards winding down the business and liquidating its assets, with the process beginning on Monday, 9 November.

The decision followed the collapse of a rescue deal. BC Partners Credit, which had agreed to become the league's new lead investor, pulled out of plans to provide up to $300 million in funding after LIV could not secure enough player commitments to support the restructured tour for 2027.

Five years and more than $5 billion spent

LIV Golf launched in 2022 with the financial backing of Saudi Arabia's Public Investment Fund, luring stars away from the PGA Tour with huge contracts. The fund has poured more than $5 billion into the venture since then, but announced earlier this year that it would stop financing the league after the 2026 season.

The league filed for Chapter 11 bankruptcy protection in New Jersey in September, insisting at the time that the move would clear the way for a player-owned version of the tour. Its lawyers now say the wind-down is the best path for creditors, and a plan will be filed with the court by 9 November. The creditors' committee meets on 20 November, with another hearing set for 24 November.

LIV's final event was played in August, when Michael La Sasso won at The Club at Chatham Hills in Indiana. Former LIV players now face an uncertain route back to the established tours.