00:00It's Benzinga bringing Wall Street to Main Street.
00:02LIV Golf filed for Chapter 11 bankruptcy protection Tuesday as the Saudi-backed league
00:08faces the end of funding from Saudi Arabia's public investment fund and searches for new
00:13investment, according to CNBC. LIV entered a restructuring support agreement with BC
00:18Partner Advisors, the credit arm of BC Partners. PIF agreed to provide $49.6 million in bankruptcy
00:26financing to keep LIV operating during the proceedings. The proposed restructuring, which
00:32requires court approval, is expected to leave players with majority ownership. BC Partners
00:37Credit and other minority stakeholders are expected to provide financing after LIV exits bankruptcy.
00:43LIV had sought to raise up to $350 million after reports that PIF would end funding following
00:48the 2026 season. For all things money, visit benzinga.com.
