Updated

Updated · The New York Times · Aug 9

Trump, Al-Rumayyan Appear at LIV Bedminster Event as PIF Weighs League Funding After Billions

Updated

Updated · The New York Times · Aug 9

Trump, Al-Rumayyan Appear at LIV Bedminster Event as PIF Weighs League Funding After Billions

Q: What secret financial lifeline was discussed behind closed doors at Bedminster to keep LIV Golf afloat through 2027?

The financial lifeline appears to be a private-credit rescue led by BC Partners Credit, centered on a loan of roughly $250 million to $300 million to keep LIV Golf operating through 2027 and potentially beyond. That is the strongest reading from the available reporting. LIV CEO Scott O’Neil said the league had signed an agreement with an unnamed lead investor and hoped to complete the transaction in September. Bloomberg and the Financial Times separately reported that BC Partners’ credit arm was leading discussions, likely through a lending structure rather than a traditional equity investment. Ted Goldthorpe, head of BC Partners Credit, was also reportedly at Bedminster, adding weight to that interpretation. The closed-door discussions also appear to have involved a broader restructuring, not just fresh cash. Reports indicate LIV is shifting to a leaner “LIV 2.0” model with about 10 events, lower purses, and players becoming majority equity holders. The Saudi Public Investment Fund, while no longer committed to ongoing funding, may still be considering paying down remaining player-contract obligations at a discount as part of a settlement that would ease the transition. So the “secret” plan discussed at Bedminster was not a full Saudi recommitment. It was more likely a BC Partners-led loan package, backed by a multi-investor structure and possible PIF help on legacy player liabilities, designed to stabilize a scaled-down LIV through 2027.

3 articles · Updated · The New York Times · Aug 9

Trump and PIF governor Yasir Al-Rumayyan were seen together before Sunday’s final round at LIV Golf’s Bedminster event, with video posted by Bubba Watson caddie Gabe Sauer and wire photos showing Al-Rumayyan nearby.
The sighting matters because PIF halted future LIV funding in April after spending billions, saying the league no longer fit its investment strategy amid current macro conditions.
LIV CEO Scott O’Neil has been seeking money to keep the 4-year-old circuit running through 2027 and said this week he had found a new lead investor without naming it.
Ted Goldthorpe, who heads BC Partners Credit, was also in the room, after reports the firm was considering a loan and PIF was weighing paying off player contracts to limit liability.
Al-Rumayyan’s New Jersey presence comes as Saudi Arabia faces economic strain from the U.S.-Israeli war with Iran, which has disrupted oil exports through the Strait of Hormuz.