BC Partners drops its $300 million LIV 2.0 bid after DeChambeau and other stars don't sign

BC Partners Credit is walking away from its plan to fund LIV Golf 2.0, the Financial Times reported Wednesday. The private credit firm had agreed to put up to $300 million into a player-owned relaunch of the league for 2027, on the condition that enough players signed on. Not enough of them did, and the ones that mattered most didn't.

A source with knowledge of BC's operations told Front Office Sports the deal "is not going to be signed." The same source said BC is "not out completely, just not under this version," and that it was too early to say what BC would need to see to come back.

Who didn't sign

LIV and BC had been looking for 30 to 40 committed players, according to Golfweek. About 15 expressed interest. The Athletic's Josh Carpenter reported that LIV did sign some players, but none of the big names: Dustin Johnson, Cameron Smith, Joaquin Niemann and Bryson DeChambeau were not among them, even though DeChambeau had publicly backed the 2.0 idea.

Under the restructuring support agreement filed in LIV's Chapter 11 case, players would have been the majority equity holders in the new league and BC would have owned close to half. BC's deadline for a "requisite number of players" was Oct. 25. The Saudi Public Investment Fund, LIV's largest creditor, had set Oct. 30 for a decision on whether the league would relaunch or wind down. Both dates passed with no announcement.

What happens Thursday

LIV is due back in U.S. Bankruptcy Court in New Jersey on Thursday, Nov. 5, at 11:30 a.m. ET. Golf Channel's Rex Hoggard reported that LIV's attorneys are expected to tell the judge the league plans to wind down. The FT said the hearing would shift toward LIV seeking to liquidate its remaining assets. As of Wednesday afternoon, USA Today found no public filing showing BC had formally terminated the agreement, and LIV did not return calls from the Associated Press.

The PIF spent billions launching LIV in 2022 and said earlier this year it would stop paying after the 2026 season. LIV filed for bankruptcy on Sept. 8. Since then Jon Rahm, Tyrrell Hatton and Sergio Garcia have left, and the DP World Tour said anyone who signs with LIV 2.0 can't apply for membership, which would cost European players their Ryder Cup eligibility.

What to watch

Thursday's hearing is the next hard fact. If LIV confirms a wind-down, the questions move to DeChambeau, Smith, Niemann and Johnson, who would be free agents looking for a tour. Golf Channel is covering the hearing live.