LIV Golf teams could soon be worth $100m each, says new investor

The breakaway series filed for bankruptcy protection last month after Saudi Arabia’s Public Investment Fund – which had spent $5bn (£3.7bn) in four years – announced it was withdrawing support at the end of the season.

That put LIV’s future in doubt but a deal with BC, subject to approval from the bankruptcy court, gives it the chance to reset next year.

“I think you could easily see a path in very short order to over a $100m valuation per team. I think that’s a real number,” head of BC Partners Credit Ted Goldthorpe told Sportico’s Invest London conference in Fulham.

BC signed a term sheet with LIV last month, requiring them to re-sign half of the players to whom it owes money, as part of their financing plan.

However, there is no obligation for the current crop to rejoin with Sergio Garcia last week submitting court papers asking for his contract to be terminated.

The bankruptcy filing showed LIV owed 64m US dollars (£48m) to its top 27 creditors with $45m (£34m) owed to current and former players at the time of bankruptcy but did not include future obligations.

Reports suggested Jon Rahm is owed up to $150m (£113m) for the remainder of his contract.

“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,” Goldthorpe said in a statement.

The first of several hearings related to the bankruptcy will be held later this week.

“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,” said LIV Golf chief executive Scott O’Neil.