LIV Golf has until end of October to decide if it survives or shuts down

In a federal bankruptcy hearing on Wednesday, Judge Michael B. Kaplan asked LIV Golf’s lawyer for the answer now hanging over the breakaway tour: when would it know whether it was “toggling to wind down or if 2.0 is going forward.”

Robert Fitzgerald of Gibson Dunn, LIV Golf’s attorney, replied that the tour “anticipate that decision will be made by the end of the month.”

The question followed a largely procedural hearing in the US Bankruptcy Court of New Jersey, where Kaplan approved a restructuring support agreement between LIV Golf and BC Partners Global. A federal bankruptcy court in New Jersey then approved LIV Golf’s reorganisation plan on Thursday, 15 October 2026.

The ruling gives the tour a route to operate through the 2027 season and pursue an exit from Chapter 11 proceedings by early 2027. Fitzgerald said LIV Golf expects to decide by the end of October whether to wind down or proceed with a restructured operation.

That route comes with a difficult condition. The court required LIV Golf to reduce excessive debt and player guarantee amounts in existing contracts through renegotiation. Jon Rahm of Spain, and the Americans Bryson DeChambeau and Dustin Johnson, have refused renegotiated or reduced terms.

BC Partners, a British private equity consortium, will provide roughly $300 million in exit financing as lead sponsor of the plan. Saudi Arabia’s Public Investment Fund has agreed to provide $49.6 million in debtor-in-possession bridge loans.

LIV Golf began in 2022 as a Saudi-backed breakaway golf tour. The Public Investment Fund stopped making further capital injections before LIV filed for Chapter 11 protection in early September. The restructuring support agreement is an important step in the tour’s effort to survive after the loss of that funding.

David Orlofsky of AlixPartners has been appointed restructuring officer to oversee the process.