LIV Golf faces collapse after $300M deal falls through.

Saudi Arabia's Public Investment Fund poured roughly $5 billion into LIV Golf over five years.

It withdrew funding at the end of the 2026 season.

Revenues amounted to just a tiny fraction of that expenditure.

The breakaway golf circuit had been seeking new funding since the PIF announced its exit.

LIV Golf filed for Chapter 11 bankruptcy protection in September 2026.

It planned to emerge from bankruptcy with $300 million in financing from BC Partners Credit.

Under that deal, players would hold most of the equity, and BC would own almost half of the league.

But that deal is now dead, a source told Front Office Sports.

BC Partners had appeared on stage with LIV Golf chief executive Scott O'Neill at the Leaders Week sports business conference in London last month.

There, it expressed belief in LIV and confidence that teams would be worth $100 million each.

Yet the firm had not attracted interest from backers before the PIF's departure.

The BC Partners offer of funding was contingent on LIV signing up enough players to remain a viable competition.

Many of LIV's biggest names, lured away from rival Tours with lucrative contracts, opted to depart rather than accept significantly reduced terms.

The Athletic reported that 30 players had signed up for the 2027 season, with another 10 undecided.

The group is said to have included star players, which could have included Bryson DeChambeau.

DeChambeau has been vocal in his support for LIV before and during its recent financial challenges.

But he has not officially announced his plans for next season.

Jon Rahm, Sergio Garcia, and Louis Oosthuizen are among those who have moved away from the project.

Golf analyst Rex Hoggard said on the Golf Channel Podcast that DeChambeau's confidence in LIV's future surprised him.

"It seems to me he continues to be on the fence, leaning towards 2.0," Hoggard said.

"And it seems to me that he's made it clear that the team model, the franchises, the equity that players have been offered in whatever 2.0 is going to look like, that's appealing to him."

Hoggard also questioned whether DeChambeau could make the competition successful without many other famous players.

"The other half of it is though what in the world could that league possibly look like with Bryson DeChambeau and fill in the blank for, I think we've come to the conclusion that you probably need 35, 40 other players to make the league, look like?" Hoggard said.

"I don't know about you, I haven't seen one name out of those other 35, 40 players that would be compelling."

Hoggard added: "That's a level of narcissism that shocks me a little bit."

BC Partners has decided the project is no longer realistic.

Unless a replacement investor is found immediately, LIV will wind down its operations.

This would bring to an end a turbulent period in golfing history that was effectively tantamount to civil war.

Despite the billions invested by the PIF and the presence of star players like DeChambeau and Jon Rahm, LIV failed to capture the public imagination.

It also failed to secure a significant media rights deal.

A proposed merger between LIV, the PGA Tour and European Tour was agreed but was never completed despite years of negotiations.

The PGA Tour and LIV Golf had been in talks since June 2023.

Those talks produced a framework agreement but no final deal.

The U.S. Department of Justice reviewed the proposed merger for potential antitrust concerns.