Bryson DeChambeau’s LIV Golf contract was one of 19 that a bankruptcy judge let the league reject this month, and LIV still owes him $5.77 million, according to its filings. ESPN reported that he “remains committed to LIV Golf” and is working behind the scenes toward LIV 2.0. But a new podcast speculates about whether he stands to gain from the restructuring, though no deal has been confirmed.
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On the Business of Sport podcast, posted on October 25, hosts Charlie Stebbings and Charlie Methven speculated that DeChambeau could benefit from BC Partners’ proposed $300 million investment in LIV. One host asked: “Is it possible that Bryson derives some portion of the benefit that BC Partners potentially are deriving from all of this?” The hosts said they were “asking the question because everything has been so opaque, so lacking in transparency.”
The hosts said LIV 2.0 could have a mix of experienced players, journeymen, and DeChambeau. They claimed that “all the serious golfers other than Bryson are out.” However, that was their opinion. Jon Rahm and Tyrrell Hatton have left, but reports this week have not confirmed whether Dustin Johnson, Cameron Smith, or Joaquin Niemann would play in LIV 2.0.
The hosts also pointed to BC Partners’ connection to DeChambeau’s agency, saying the firm has invested in it. They described the connection as “wheels within wheels.” Later, they speculated that BC Partners could help protect DeChambeau from financial losses if LIV 2.0 fails. In 2024, BC Partners’ credit arm announced a “strategic investment” in GSE Worldwide, DeChambeau’s agency. However, the financial details of the investment were not made public.
In August, a GSE spokesperson told Front Office Sports that “BC Partners acts as a lender to GSE” and that Gatemore Capital Management holds all of its voting shares. GSE said neither it nor Gatemore knew of or took part in the LIV talks. It declined to say whether DeChambeau is personally involved, and BC Partners declined to comment.
BC Partners’ proposed $300 million package includes a $127.5 million term loan, $147.5 million in senior preferred equity and a $25 million convertible tranche. Players would own 52.5 percent of the new league, BC Partners and co-investors 45 percent, and management 2.5 percent. Players would also receive signing bonuses and some name, image, and likeness rights.
Coverage of the term sheet doesn’t mention a separate arrangement for DeChambeau. Harvard bankruptcy expert Jared Ellias told USA Today the plan was “very much not a done deal,” and noted BC Partners would sit above players in the capital structure, so players would take losses first.
BC Partners decides how many players, and which ones, LIV needs, Golf Channel reported. The October 25 deadline can be extended or waived, and LIV’s lawyers say they’ll know by the end of the month whether LIV 2.0 goes ahead.
In April, DeChambeau told Flushing It, “I would figure out a way for it to make sense.” LIV CEO Scott O’Neil once said DeChambeau was “more pro-LIV than I am.”
What is known is that BC Partners has a lending relationship with DeChambeau’s agency, LIV needs a big name to attract fans, and DeChambeau has publicly supported the league.