▲ Graeme McDowell, who announced his departure from LIV Golf
2010 US Open champion Graeme McDowell (Northern Ireland) is leaving LIV Golf as the organization faces a crossroads regarding its survival.
McDowell announced on October 27 that he has decided not to participate in "LIV 2.0," the new system being promoted for launch next year.
McDowell is a veteran player with 4 wins on the PGA Tour, including the major US Open, and 11 wins on the DP World Tour.
He left the PGA Tour in 2022 to join LIV Golf.
McDowell recently held negotiations with the DP World Tour for his return and plans to discuss specific contract terms next month.
He recently revealed in an interview that he has completed related procedures, such as paying fines for his return to the DP World Tour.
LIV Golf is scrambling to rebuild following the departure of even McDowell.
On this day, LIV Golf announced the appointment of Mark King, former executive at TaylorMade and Adidas, as its new senior advisor.
LIV Golf stated, "Advisor King will provide the expertise needed for organizational change," adding, "We are focusing all our capabilities on advancing consultations with players."
LIV Golf, which fell into severe financial distress due to the suspension of funding from Saudi Arabia's Public Investment Fund (PIF), has recently been pursuing financial restructuring and attracting investors.
In particular, it has formulated a plan to launch a new type of league, LIV 2.0, by receiving up to $300 million (approx. 400 billion won) in funding from private equity firm BC Partners.
However, the continuation of LIV Golf remains uncertain.
Recently, many key players, including Jon Rahm (Spain), Sergio Garcia (Spain), Thomas Pieters (Belgium), Abraham Ancer (Mexico), David Puig (Spain), Adrian Meronk (Poland), and Louis Oosthuizen (South Africa), have successively announced their departures.
As the tournaments they can participate in decreased and securing income such as prize money became uncertain, players began to leave LIV Golf.
In particular, the exodus of players accelerated further after the DP World Tour recently announced that it would not allow players affiliated with LIV Golf to participate in tournaments starting next season.
Securing players is a core task that will determine the survival of LIV Golf.
If it fails to secure enough players to drive league box office success, attracting investment will inevitably become difficult.
Key investor BC Partners may also withdraw its investment plan if LIV Golf fails to secure enough players and establish a profitable model.
Reuters reported, "It will soon be decided whether LIV Golf will launch the new LIV 2.0 system or liquidate its business."
LIV Golf's bankruptcy court hearing is scheduled to be held on November 6.
(Photo: AP, Yonhap News)
※
Copying, redistribution, and unauthorized use in AI training are strictly prohibited.