BC Partners Abandons LIV Golf Relaunch Bid, Leaving Saudi-Backed Tour to Seek Liquidation

BC Partners is dropping its bid to relaunch LIV Golf, the challenger golf league that filed for Chapter 11 bankruptcy in September, leaving the Saudi-backed tour to seek a liquidation of its remaining assets. The Financial Times reported the decision on Wednesday, according to The future of trading, and Reuters could not immediately verify the report.

BC Partners is a London-headquartered alternative investment firm founded in 1986 managing c.€35bn AUM across Private Equity and Private Credit strategies. LIV Golf is the Saudi-backed challenger golf league that filed for Chapter 11 bankruptcy in September.

BC Partners Ends Its LIV Golf Relaunch Bid

The decision leaves LIV Golf to seek a liquidation of its remaining assets, according to the Financial Times report. A bankruptcy judge had approved an agreement between LIV Golf and BC Partners on October 14, providing $300 million in loans and investments, Yahoo reported. That deal gave players 52.5% equity in LIV Golf 2.0, with BC Partners holding 45% and management 2.5%, and the next hearing was set for October 20.

BC Partners Credit announced an initial committed investment in LIV Golf on October 5, part of a targeted $300 million financing plan, according to PR Newswire. The funds were intended to help LIV Golf emerge from restructuring as a fiscally strong, team-focused league. On October 13, Sports Business Journal reported that BC Partners and Ted Goldthorpe were betting on a LIV 2.0 revival, committing up to $300 million despite player uncertainty, with a deadline of October 25 for players to choose between LIV 2.0 and the European Tour.

BC Partners' Fund XII and Prior Deals

BC Partners announced the first close of Fund XII at €2.2 billion in April 2026, according to akta.pro company records, continuing its succession of 11 prior PE funds. The same records show BC Partners completed the €800 million majority acquisition of Fortidia, a Milan-headquartered global platform providing shipping, fulfillment, and marketing services to MSMEs, in March 2026. In January 2026, BC Partners and Bpifrance completed the joint acquisition of Biogaran, one of France's leading generic medicines companies.

How the LIV Golf Deal Unfolded

On August 6, 2026, SportBusiness reported that LIV Golf had signed a term sheet with a new lead investor, reportedly BC Partners, providing the breakaway golf tour with a financial lifeline. Commissioner Scott O'Neil announced the deal, stating it would sustain LIV Golf through 2030. On October 13, 2026, Sports Business Journal reported that the league needed player commitments within two weeks, with a deadline of Oct. 25 for players to choose between LIV 2.0 and the European Tour. On October 14, 2026, Yahoo reported that a bankruptcy judge approved the agreement between LIV Golf and BC Partners.

LIV Golf's Next Hearing

A bankruptcy judge set the next hearing in the LIV Golf and BC Partners agreement for October 20, Yahoo reported.