LIV Golf to shut down after losing star players and funding

LIV Golf announced it will liquidate operations after failing to secure critical funding needed to sustain the upstart circuit. The decision marks a dramatic reversal for the Saudi Public Investment Fund-backed venture that launched in 2022 with considerable fanfare and marquee signings.

The breakaway circuit, which promised substantial purses to lure top players away from traditional professional golf tours, has faced mounting challenges since its debut. The loss of key competitors to rival tours and the collapse of negotiations for fresh capital have left the organisation unable to continue operations.

LIV Golf's launch in 2022 sent shockwaves through professional golf, recruiting major stars with lucrative offers and 54-hole tournament formats. The venture initially promised to reshape the sport's landscape and challenge the PGA Tour's dominance.

The circuit's troubles reflect broader difficulties in sustaining alternative sports ventures, particularly those dependent on external financing. The closure will reshape professional golf's competitive landscape as the sport navigates consolidation among its major tours.

LIV Golf's shutdown comes amid ongoing industry consolidation and negotiations between various golf entities seeking to define the sport's future structure and governance.