LIV Golf's Rescue Plan Conditionally Approved... Tour's Future in Focus

U.S. Court Approves Agreement with Private Equity Firm
Rahm, DeChambeau, Johnson and Other Stars Decline to Renew Contracts
DP World Tour Faces Challenge of Banning LIV Players from Competing

LIV Golf may be able to continue holding tournaments next year.

Golf Channel, a golf-focused media outlet, reported on October 15 (Korea time) that a New Jersey court in the United States had approved an agreement between LIV Golf and private equity firm BC Partners. The agreement includes a $300 million loan and investment to fund the tour's operations, equivalent to approximately 402.7 billion won. It also stipulates that LIV Golf players will hold a 52.5% stake, BC Partners and minority investors will hold 45%, and management will hold 2.5%.

Scott O'Neil, CEO of LIV Golf. Courtesy of LIV Golf.

LIV Golf has secured a means to keep the tour going next season, when funding from Saudi Arabia's Public Investment Fund (PIF) is set to end. However, a number of key players have announced that they will not renew their contracts with LIV Golf. Nineteen players, including LIV Golf's biggest star, Spain's Jon Rahm, as well as Bryson DeChambeau and Dustin Johnson, both of the United States, have also declined to renew their contracts.

In addition, the DP World Tour has warned that, starting next season, it will not allow LIV Golf players to compete in its tournaments. The PGA Tour has completely banned LIV Golf players from its events, while the DP World Tour has so far allowed them to compete on a limited basis.

This content was produced with the assistance of AI translation services.