Verified
Evidence: resolved ·
Fact Lock: locked ·
QA: pass
LIV Golf will shut down permanently and enter liquidation, ending the Saudi-backed professional golf league’s operation, according to reports from multiple outlets.
The Age and the Sydney Morning Herald report that LIV Golf is closing after losing its Saudi-backed funding. The shutdown and liquidation have also been reported by Yahoo Sports and Forbes Business.
Yahoo Sports reports that LIV Golf’s lawyers confirmed the shutdown after five years and approximately $5 billion in spending. The outlet also says the liquidation process will begin on Monday, with the league’s remaining assets sold off.
Forbes Business reports that the company said it would wind down its business during a bankruptcy court hearing on Thursday. The supplied reports do not identify the court or provide the exact calendar date for the start of liquidation.