South Australia Premier Peter Malinauskas has declared the breakaway golf circuit’s future in the state “game, set and match,” signaling a definitive end to LIV Golf’s presence in Adelaide. Despite hosting four events in the city, the Premier cast serious doubt on the viability of the upcoming March tournament at Kooyonga Golf Club. His comments align with a broader collapse in the organization’s financial stability, marking a sharp reversal from the initial hype surrounding the Saudi-backed venture.
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The crisis was precipitated by reports from The Financial Times that BC Partners Credit, the designated replacement for the Saudi Public Investment Fund, has pulled out of a deal worth over £200 million. This withdrawal follows a mass exodus of elite talent, including three-time major champion Jon Rahm, who has departed the circuit. Other high-profile figures such as Sergio Garcia, Ian Poulter, Tyrrell Hatton, Louis Oosthuizen, and Lee Westwood are also seeking futures elsewhere, stripping LIV of the star power necessary to sustain its commercial appeal.
LIV Golf has been forced to apply for Chapter 11 bankruptcy, a legal maneuver that effectively cancels existing player contracts and restructures the organization’s debts. This development underscores the severity of the financial strain caused by the loss of both primary funding and top-tier athletes. For South Australia, the news confirms that the lucrative but controversial golfing era is closing, with no immediate prospects for future events in the state.
Source: The Independent Sport
