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LIV Golf, BC Partners file restructuring support agreement in bankruptcy case

LIV Golf has reached a pivotal milestone in its bankruptcy proceedings with the filing of a restructuring support agreement (RSA) led by investment firm BC Partners. The deal includes a $300 million infusion into the revamped league, now dubbed LIV Golf 2.0, which will adopt a leaner schedule and a more structured business model.

Under the terms, current players stand to gain significant equity stakes—52.5% of the new league—alongside signing bonuses and select NIL rights, while BC Partners and minority investors retain 45% ownership, with management holding the remaining 2.5%. The agreement also extends the deadline for players to commit to the restructured league until October 25, a critical move as LIV aims to secure the necessary two-thirds approval from creditors, including its players, to finalize the Chapter 11 restructuring plan.

The league’s CEO, Scott O’Neil, framed the deal as a step toward a player-centric, globally competitive league that complements traditional golf while offering fresh opportunities for athletes and fans alike. Meanwhile, the future of some high-profile players remains uncertain, as Sergio Garcia has formally filed to terminate his contract with LIV Golf, citing the league’s shift away from its existing business model.

A second day of hearings is scheduled in New Jersey’s bankruptcy court to assess the feasibility of the proposed plan.

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