BC Partners’ credit arm is leading a group of investors exploring a funding deal that could give LIV Golf a financial lifeline after the league lost support from its main backer, Saudi Arabia’s Public Investment Fund.
People familiar with the talks said discussions are moving forward. However, no final agreement has been reached, and the terms could still change.
The search for fresh funding has become critical for LIV Golf. Bloomberg reported in May that the league had started preparing for a possible U.S. bankruptcy filing if it failed to secure new investment.
LIV Golf Sees Strong Investor Interest
LIV Golf Chief Executive Officer Scott O’Neil said the league has already secured early backing.
He said there is “an agreement in place with a lead investor that was signed and approved by the board.”
O’Neil also said LIV Golf is “seeing strong interest from more than a dozen additional parties to potentially serve as minority investors.”
He added that the league expects to finalise terms in the coming weeks. The goal is to complete the transaction in September.
O’Neil also said LIV Golf will focus its next phase on making players the majority equity owners.
BC Partners Expands Sports Investments
LIV Golf spokesperson Lara Toscani Weems declined to comment beyond O’Neil’s statement. A BC Partners spokesperson also declined to comment.
BC Partners has increased its presence in the sports sector through financing and investment deals instead of buying sports clubs.
The firm has financed Riddell, the maker of helmets for the National Football League. It also owns a stake in sports agency GSE Worldwide.
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