McIlroy blasts LIV Golf for 'wasting' money as US court conditionally approves revival plan

Rory McIlroy of Northern Ireland, a five-time major champion, criticized LIV Golf for squandering vast sums of money as the breakaway circuit navigates bankruptcy protection proceedings. A US court conditionally approved an investment deal aimed at reviving the tour amid his remarks.

According to Golf.com and other US outlets, McIlroy said at the Bloomberg New Economy Forum in New Delhi, India, on Wednesday that LIV Golf "was about half a good idea but was executed poorly."

A longtime critic of the Saudi-backed circuit, McIlroy said LIV had "enormous capital" but wasted much of it. "They could have worked with the existing golf bodies, but instead they spent the money making already-wealthy players even wealthier," he said.

LIV Golf launched in 2022 with backing from Saudi Arabia's Public Investment Fund, luring top players with massive signing bonuses. The circuit entered bankruptcy protection in the United States after PIF decided to cut off funding.

McIlroy predicted that more players would refuse to rejoin LIV Golf if it relaunched, adding that even a revived version would not threaten the established order of the sport the way it once did.

He did, however, express support for LIV players returning to the PGA Tour. "Some players coming back would clearly benefit the tour's business," McIlroy said, noting that the return of star players could boost the tour's revenue and competitiveness.

McIlroy took a hard line against players who defected to LIV Golf when the circuit first launched, but since January 2024 he has said returning players should not face penalties. His latest remarks reaffirm that position — criticizing LIV Golf's business model while keeping the door open for players to come back.

Meanwhile, Golf Channel reported Thursday that a US bankruptcy court in New Jersey approved an investment agreement between LIV Golf and private equity fund manager BC Partners. The deal includes $300 million in loans and investment. Under the restructured ownership, players would hold a 52.5 percent stake, BC Partners and minority investors 45 percent, and management 2.5 percent.

The ruling gives LIV Golf a financial foundation to operate next year, but significant challenges remain, including the departure of key players and restrictions on competing in established tours.

Star player Jon Rahm of Spain has indicated he will not renew his contract, and Bryson DeChambeau and Dustin Johnson, both of the United States, have also declined to re-sign.

The DP World Tour also announced it will bar LIV Golf players from its events starting next year, requiring them to submit a pledge by Nov. 16 not to participate in LIV Golf events. LIV Golf pushed back, calling the move an attempt to obstruct player recruitment and its restructuring process.