FT reported LIV Golf may be headed to bankruptcy. Players who opted for outsized contracts found LIV ready to renege. Star golfers reportedly received offers worth pennies on the dollar of their remaining remuneration.
BC Partners private credit arm may fund the operation and Liberty Strategic Capital (Steve Mnuchin) may enter on the equity or debt side.
The easy, fun big money is gone as the Saudis decided not to throw more good money after bad. Professional golfers will get an up close look at their new private equity/private credit owners. I doubt they like what they see. Welcome to the world of the average worker over the last fifteen to twenty years.
Trump II expects LIV Golf to survive and keep booking tournaments at his courses. The man tends to get his way.
Politicians Red & Blue love PEU and their new TechGod brethren. Increasingly, more are one.
