LIV Golf secures BC Partners ‘ credit funding to support restructuring
FILE PHOTO: Golf – LIV Golf Invitational – London – Centurion Golf Club, St Albans, Britain – July 5, 2023 General view of the 18th hole at the Centurion Golf Club Action Images via Reuters/Paul Childs/File Photo
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Oct 5 : BC Partners Credit on Monday said it had made an initial committed investment in LIV Golf and plans to provide up to $300 million in financing to help the professional men’s golf league emerge from restructuring and strengthen its financial footing ahead of the 2027 season.
LIV Golf filed for Chapter 11 protection in New Jersey in September, beginning a court-supervised restructuring process the company hopes to complete in early 2027.
“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,” Ted Goldthorpe, partner and head of BC Partners Credit, said in a statement.
BC Partners Credit, which provides financing to middle-market companies, said the funding would support what it described as the next phase of LIV Golf, under which players would become equity owners of both the league and its teams.
The financing remains subject to bankruptcy court approval and customary conditions.
Source: Reuters
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