LIV Golf will shut down after a five-year run

TRENTON, N.J. — LIV Golf is shuttering after five years that fractured the sport's landscape, announcing Thursday in bankruptcy court it plans to wind down operations instead of launching a new version because it didn't have enough support."The debtors are not currently proceeding with the LIV 2.0 plan," attorney Matthew Williams of Gibson Dunn said in a hearing in New Jersey. "Instead, the debtors are toggling to a value-maximizing wind-down in their business."LIV Golf, which launched in June 2022 by offering nine-figure signing bonuses to lure top names away from the PGA Tour, lost Saudi Arabia funding in April after spending more than $5 billion.It filed for Chapter 11 bankruptcy on Sept. 8 and thought it had a lifeline in BC Partners Credit, which pledged a $300 million investment to pivot to a more financially sustainable "LIV 2.0." But players like Jon Rahm and Sergio Garcia, Tyrrell Hatton and Louis Oosthuizen, weren't interested."BC Partners Credit supported a transaction that