Leeds United referenced by LIV Golf in statement regarding 'court-supervised restructuring'
Leeds United have been named in a statement shared by LIV Golf
LIV Golf have surprisingly referenced Leeds United in a statement announcing their “court-supervised restructuring process”.
The breakaway league was previously funded by Saudi Arabia’s Public Investment Fund (PIF), which has since pulled its backing.
A new investor is now said to have been found in BC Partners and the reorganised company is expected to be majority-owned by LIV players.
Leeds United referenced by LIV Golf
In a statement issued on behalf of LIV Golf, CEO Scott O’Neil said: “Now it is time to enter the next phase of LIV Golf. Today, we took an important step forward to get there.
“LIV Golf has entered a court-supervised restructuring process that provides us with the time and framework to address previous financial obligations and complete a transaction that will make the League’s next phase a reality. Put simply, this process is designed to build a stronger and more sustainable future for LIV Golf.
“Plenty of well-known companies have taken this path before us, including Marvel Entertainment, Delta Airlines, and Caesars Entertainment, along with sports franchises like the Los Angeles Dodgers, Pittsburgh Penguins, and Leeds United F.C.
“We are entering this process with a clear plan and the support of BC Partners, well-capitalized investors with deep experience in sports and entertainment.
“Our objective is not simply to preserve what we have. It is to make it better. The next phase of LIV Golf will be built around a sustainable business model and deeper alignment between players and the League, with team golf at its core.
“Players will have the opportunity to share directly in the value they help create, while teams will be positioned to grow into enduring global sports businesses. And fans will remain at the center of everything we do. There is still work ahead, but I want you to know where we are going.”
LIV plan to emerge from the process and usher in a new era in early 2027.