US Court Conditionally Approves LIV Golf Rehabilitation Plan... Players Leave One by One

A U.S. court has conditionally approved LIV Golf's rehabilitation plan, raising the possibility that LIV Golf can continue hosting tournaments next year.

Golf-specialized media outlet Golf Channel reported on the 15th (Korea time) that a U.S. court in New Jersey approved the agreement between LIV Golf and private equity firm BC Partners.

The agreement includes a loan and investment worth 300 million dollars (approx. 402.7 billion won) for tour operations.

As a result, LIV Golf has laid the groundwork to sustain its tour next year even if funding from Saudi Arabia's Public Investment Fund (PIF) is halted.

The agreement includes provisions where LIV Golf affiliated players will hold a 52.5% stake, BC Partners and minority investors 45%, and management 2.5%.

However, major players have successively declared that they will no longer sign contracts with LIV Golf.

Jon Rahm (Spain), LIV Golf's top star, stated through his attorney earlier this month that he would not extend his contract.

Nineteen other players, including Bryson DeChambeau and Dustin Johnson (both of the U.S.), also refused to renew their contracts.

In addition, the DP World Tour has pressured LIV Golf by announcing it will no longer allow LIV Golf affiliated players to participate in its tournaments starting next season.

Guy Kinnings, CEO of the DP World Tour, stated in an interview with the BBC, "Players will have to make a choice.

We will no longer allow certain players to participate in events on a limited basis."

While the PGA Tour has completely banned LIV Golf affiliated players from participating in its tournaments, the DP World Tour had previously permitted limited tournament appearances.

The DP World Tour, which decided to completely halt these measures starting next year, has demanded that LIV Golf affiliated players submit a written pledge by November 16 not to participate in LIV Golf tournaments.

Attorneys for LIV Golf argued for a withdrawal, stating, "The DP World Tour is restricting LIV Golf players from participating and forcing an immediate choice," and "This appears to be a clear attempt to obstruct LIV's player retention and rehabilitation process."

(Photo: Getty Images)
※ Please note: This article was translated by AI and may contain errors.