With players like Patrick Reed exploring alternate options and Bryson DeChambeau not committed to staying after his contract expires in 2026, focusing on majors and his digital media brand, LIV’s roster is one departure away from collapse. The only thing keeping it alive is a promise made by CEO Scott O’Neil: the league has found an unnamed lead investor to fund it $300 million, what the league reportedly needs to stay afloat in 2027, and that the investor has signed a term sheet approved by the board of investors. Bloomberg’s Reshmi Basu believes BC Partners may be the investor, but says the deal could still fall through during negotiations.

“BC Partners is the lead investor for this deal, which may or may not happen because it’s not a binding offer, meaning that there are still some negotiations to take place.

“We’ve been speaking to sources who have been looking at the financing, and they were a little bit skittish about putting money in because so much of the success of the league is going to depend on a heavy lift from the players. They’re asking their players to take equity. You’re going to take a huge chance that the league is going to survive, right? Like, if the league doesn’t survive a couple of years from now, you could be left holding nothing.”

On August 5, Bloomberg reported BC Partners’ credit division was leading a group exploring financing for LIV, not an outright investment. Nothing is final yet, and both LIV Golf and BC Partners have declined to comment when approached directly.

Regardless of the details, Scott O’Neil promised players equity stakes in the league. And that’s what makes it notable. If LIV is restructuring its collaboration with BC Partners as a loan rather than fresh capital, the league certainly needs its own player to shoulder the risk for keeping it afloat. As Basu reports, equity is worthless if the league folds in a couple of years and the players take the direct hit.

Amid this situation, Jon Rahm, LIV’s biggest star, could be on his way out. He reached a conditional release agreement with the DP World Tour in May, settling outstanding fines and playing a handful of European events this season. Multiple reports have since suggested that he has “almost resigned,” indicating Rahm could leave once the 2026 season ends. Alan Shipnuck also stated that he would be surprised if Rahm continued playing in the 2027 season.

Eight other players, including Tyrrell Hatton, struck similar releases in February to keep their own return path to Europe open.

The PGA Tour temporarily opened its gates to select elite LIV players through its one-time Returning Member Program, which Brooks Koepka used in January 2026 to return. Now, the tour has explicitly stated that any player who wants to return must prove they have cleared all legal and contractual obligations to rival circuits before the tour will even consider them. But some PGA players, including Rory McIlroy, are against the idea. In fact, McIlroy openly said that he doesn’t believe LIV players would offer anything to the league.

And that’s not the only issue LIV is facing. It has also lost ground on the Asian Tour. In July, the PGA Tour and the DP World Tour brought the Asian Tour into their existing alliance, ending a partnership LIV had relied on since before its 2022 launch. The league is now separately fighting a lawsuit from four vendors over unpaid fees.

That being said, Bloomberg Chief Correspondent Sridhar Natarajan tied the issues back to the product on the course. “You can throw out all the money in the world, but if your fan base sees that your competitive drive is missing, then you’re losing the key ingredient in the first place to draw fans to the sport,” he said.

And rightfully so. Star players have little leverage left. With all the events now almost done, LIV has to wait to see if its new investors come through.