Key Takeaways
- • BC Partners is seeking to take control of LIV Golf from Saudi Arabia's Public Investment Fund (PIF), according to the Financial Times, via a purchase of the PIF's bankruptcy loan.
- • The move aims to revive LIV Golf assets after LIV said it would wind down operations, with BC Partners looking to create a successor league.
- • The reported transaction is structured around acquiring the Public Investment Fund's bankruptcy loan tied to the failed golf league.
- • Details on deal value and terms were not disclosed in the available reporting.
Summary
BC Partners, a private equity firm, has revived its efforts to create a successor to the LIV Golf league, the Financial Times reported on Sunday, November 8. According to the FT, BC Partners is looking to purchase the Public Investment Fund's bankruptcy loan in order to take control of LIV Golf's assets from the Saudi wealth fund.
The effort follows LIV's announcement that it would wind down operations. Reuters, citing the FT, reported that the firm's pursuit centers on reviving the failed golf league's assets rather than simply acquiring a going concern, positioning the transaction as a restructuring of a distressed sports-entertainment asset backed by sovereign capital.
The available reporting does not specify the size of the loan, the purchase price, or the expected timeline for any transaction or relaunch. Readers should treat the details as preliminary, as they derive from the FT's initial report and subsequent wire coverage.
The effort follows LIV's announcement that it would wind down operations. Reuters, citing the FT, reported that the firm's pursuit centers on reviving the failed golf league's assets rather than simply acquiring a going concern, positioning the transaction as a restructuring of a distressed sports-entertainment asset backed by sovereign capital.
The available reporting does not specify the size of the loan, the purchase price, or the expected timeline for any transaction or relaunch. Readers should treat the details as preliminary, as they derive from the FT's initial report and subsequent wire coverage.
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