LIV and let die: Rival league tells bankruptcy court it will wind down operations

LIV Golf is shuttering after five years that fractured the sport's landscape with promise of Saudi riches, announcing Thursday in bankruptcy court it plans to wind down operations instead of launching a new version because it didn't have enough support.“The debtors are not currently proceeding with the LIV 2.0 plan,” attorney Matthew Williams of Gibson Dunn said in a hearing in New Jersey. “Instead, the debtors are toggling to a value-maximizing wind-down in their business."LIV Golf, which launched in June 2022 by offering nine-figure signing bonuses to lure top names away from the PGA Tour, lost Saudi Arabia funding in April after spending more than $5 billion.It filed for Chapter 11 bankruptcy on Sept. 8 and thought it had a lifeline in BC Partners Credit, which pledged a $300 million investment to pivot to a more financially sustainable “LIV 2.0.” But players like Jon Rahm and Sergio Garcia, Tyrrell Hatton and Louis Oosthuizen, weren't interested.“BC Partners Credit supported a tran