BC Partners is attempting to acquire a $50 million debtor-in-possession financing loan from Saudi Arabia's Public Investment Fund, which would give the London-based private equity firm control of LIV Golf's bankruptcy process, the Financial Times reported.
LIV Golf filed for Chapter 11 bankruptcy protection in September after the Public Investment Fund announced it would end financial backing following the 2026 season. The Public Investment Fund has invested more than $5 billion in LIV since the league's 2022 launch.
BC Partners previously sought to create a successor to LIV Golf after a proposed financing deal with the firm fell apart, prompting LIV to wind down operations. The debtor-in-possession financing structure would allow BC Partners to control the direction of the LIV Golf bankruptcy proceedings.