LIV Golf Enters Liquidation Leaving Cameron Smith’s Future Unclear

Cameron Smith Future Remains Unclear as LIV Golf Files for Liquidation

Five years after fracturing professional golf, LIV Golf announced in bankruptcy court that it plans to wind down operations instead of launching a new version due to insufficient support, leaving the future of 2022 British Open champion Cameron Smith unclear, smh.com.au reported.

“In light of the current circumstances, we believe shifting toward an orderly wind-down is the most responsible path forward for the League at this time,” Gene Davis and Jon Zinman of LIV Golf board’s special committee said in a press release.

The decision follows the withdrawal of Saudi Arabia’s Public Investment Fund (PIF) as chief backer last year. LIV had secured $300 million of potential financing from BC Partners to stage tournaments in 2027, but scrapped the plan after high-profile players including Jon Rahm and Australia’s Lucas Herbert departed the breakaway tour.

Judge Voids Player Contracts in Bankruptcy Proceedings

Last month, a US bankruptcy judge approved LIV Golf’s request to reject 19 player contracts, including Smith’s, as part of the tour’s bankruptcy proceedings and transition to LIV Golf 2.0. That ruling freed Smith and 18 other golfers to negotiate new terms or explore opportunities with other tours. Bankruptcy filings listed Smith as an unsecured creditor owed about $US4.84 million in past quarterly payments.

While former teammate Lucas Herbert walked away from LIV, Smith and his Ripper GC teammates Marc Leishman and Elvis Smylie have yet to signal their intentions. Smith turned down a move back to the PGA Tour under the “Returning Player Program” in January, but reportedly requested a formal release from his LIV Golf contract at bankruptcy hearings in New Jersey last month.

Impact on Host Cities and Financial Stakes

South Australian Premier Peter Malinauskas acknowledged the end of the tour ahead of the official US announcement, noting that BC Capital Partners refused to support LIV without the required players. Adelaide previously hosted four LIV Golf tournaments that attracted crowds exceeding 400,000 spectators and delivered an estimated $316 million boost to the state economy.

“BC Capital Partners have made it clear that they don’t intend to support LIV if they don’t get the players required, which is essentially consistent with the South Australian government’s position,” Malinauskas told reporters in Adelaide. “It’s fair to say that on all accounts, for all the information we have before us, I think it’s not going to happen next year.”

Saudi Arabia’s PIF previously committed $US5 billion to establish LIV Golf, offering lucrative contracts to drawcards like Smith—who reportedly signed for $US100 million—alongside Jon Rahm, Bryson DeChambeau, and Phil Mickelson, while maintaining tournament purses of $US20 million per event.

LIV Golf stated that it remains open to considering offers from third parties that could extract more value from its assets throughout the wind-down process.

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