A new restructuring agreement with BC Partners, the international investment and private equity firm investing $300 million into LIV Golf, is allowing the embattled league more time to gauge the interest its golfers have in returning.
Among those is North Palm Beach'sJoaquin Niemann,LIV's all-time leader with nine titles. The 27-year-old Chilean recently said he still has not decided if he will continue playing on LIV, or will start the process of returning to the PGA Tour.
Before winning the Chilean Open Oct. 4, Niemann told the Chilean newspaper La Tercera he did not know if, "I want to stay (with LIV) and believe in what’s happening in the league or go play more in Europe and from there try to get on the PGA Tour.”
Niemann believes players possibly
receiving equity in the league is a positive but "it’s something that I think could take a couple of years. I don’t know if it’s something I want to do at this stage of my career. So, these are questions I have to ask myself before making a decision.”
LIV Golf filed for bankruptcy protection in September, five months after Saudi Arabia's Public Investment Fund announced it would no longer bankroll the league after committing more than $5 billion since its inaugural season of 2022.
The league officially entered its restructuring agreement with BC Partners Oct. 5 with the hopes of moving forward with LIV 2.0 in 2027. That plan has the players becoming equity partners in the league as well as its teams. CEO Scott O'Neal also has proposed reducing its events from 14 to 10, with at least half played outside the U.S.
“Our goal is to facilitate LIV Golf’s emergence from the restructuring process on sound financial footing and with renewed momentum heading into the 2027 season,” said Ted Goldthorpe, head of BC Partners Credit, in a statement.
"Just as importantly, we want the players who make this league what it is to share in what they help build. Giving players real and actionable ownership in the league and the teams is a unique opportunity in professional golf, and it aligns everyone around the long-term success of the product for the game and for the fans."
CEO Scott O'Neal: BC Partners investment important for LIV
O'Neal said in a statement the investment from BC Partners is an important step forward for LIV Golf.
"We believe deeply in the future of this league and in the opportunity to build something distinctive alongside our players," he added. "We’re delivering on our major milestones, and while there is still work ahead, today marks meaningful progress toward a player-owned, team-focused, truly global league that complements the wider game and creates new opportunities for players, fans, partners and the next generation of golfers."
The Chapter 11 filing revealed LIV golf's assets between $100 million and $500 million with liabilities of $500 million and $1 billion. It listed several players owned money, including Bryson DeChambeau, Jon Rahm, Cam Smith and Dustin Johnson.
Tom D'Angelo is a senior sports columnist and reporter for The Palm Beach Post. He can be reached at tdangelo@pbpost.com.
This article originally appeared on Palm Beach Post: LIV Golf restructuring agreement has Joaquin Niemann weighing future
