In summary

  • BC Partners has withdrawn its proposed financial help for LIV due to a lack of commitments from star players, leaving Cam Smith's future and the LIV Adelaide event up in the air.
  • Significant names including Jon Rahm, Sergio Garcia, Ian Poulter and Lucas Herbert have opted to move on from LIV, while only Bryson DeChambeau remained invested in the LIV 2.0 model.
  • South Australian premier Peter Malinauskas has all but conceded the LIV Adelaide event won't happen, saying the state will now pivot to the Australian Open.

Ahead of what could be a significant hearting in LIV's bankruptcy proceedings in the US on Friday, multiple outlets are reporting that BC Partners had opted to withdraw its proposed financial help due to a lack of commitments from star players. 

It leaves the playing future of Australian star Cam Smith, who was not among the players to confirm his exit, and the LIV Adelaide event will be collateral damage after four years of hosting some of the world's best players.  

LIV golf filed for bankruptcy in September as part of its restructuring, rendering all player contracts void and several took the opportunity, with uncertainty around the new LIV 2.0 concept, to leave. 

Significant names including Jon Rahm, Sergio Garcia, Ian Poulter, Tyrrell Hatton, Louis Oosthuizen, Lee Westwood and Australian Lucas Herbert all opted to move on from LIV. 

Deadlines for player commitments to LIV 2.0 were extended until the end of October and despite reports up to 15 players were aligned with the new model, BC Partners opted to pull out leaving LIV officials with little hope of survival for the league. 

Bubba Watson, David Puig, Brandon Grace, Abraham Ancer, Thomas Pieters and Adrian Meronk were also set to depart LIV.

Of the big stars who signed nine-figure contracts to join LIV, only Bryson DeChambeau remained invested in the new model, which was set to include only 10 events and reduced prize purses from the $20m at each event under LIV's original model.    

“It’s going to be done right. And this is going to be a league, hopefully, that exists forever," he said on the Figuring Out podcast recently.  

LIV Adelaide looks done. Pic: Getty

Several LIV players, including Australian Elvis Smylie, are contesting the DP World Tour's qualifying school in a bid for cards in Europe, indicative of where they see their future, without having publicly declared an exit from LIV. 

Reacting to the news BC Partners had pulled funding, South Australian premier, Peter Malinauskas all but conceded the LIV Adelaide event would not happen going forward. 

“I think that’s ‘stumps’, as far as I can tell,” he told Radio 5AA. 

"I’ve been making pretty clear to LIV Golf themselves the same message that BC Capital Partners have had, and that is, whether or not South Australia is even willing to host an event is going to be contingent upon them having the playing stock that reflects what we’ve had in the past. Now, that clearly hasn’t come to fruition and BC Capital Partners have made their announcement this morning.

“Now we just have to pivot to the Australian Open, which we’ve obviously got a six-year deal with Golf Australia that we arranged post-seeing the news that LIV was in a bit of trouble.”

Kooyonga Golf Club was set to host the LIV event in 2027 but had yet to be informed it had been cancelled as LIV officials dealt with the fallout of the funding collapse. 

“The Club has not received any official advice from LIV Golf on this matter, and we are seeking clarification,” a statement said. 

“We won’t be commenting on media reports or speculating on what they may mean for LIV Golf Adelaide. When the Club has more information, we will communicate with our members first, before making any further public comment.”

It's been reported LIV could now be forced to liquidate all assets having failed to secure any other investors outside of BC Partners.