Ted Goldthorpe, a seasoned Wall Street investor, is leading efforts to revive LIV Golf after the league’s collapse earlier this year, seeking to prove skeptics—including PGA Tour star Rory McIlroy—wrong about its financial viability without Saudi Arabian government backing.

LIV Golf, backed by Saudi Arabia’s Public Investment Fund (PIF), spent approximately $5.5 billion over five years before being placed into Chapter 11 bankruptcy last month. While PIF appears willing to cut its losses and exit the venture, Goldthorpe and his firm, BC Partners, are pursuing a successor league they refer to as “LIV 2.0.” BC Partners, which manages about $40 billion in assets, is considering an investment of up to $300 million alongside partners to relaunch the circuit.

Goldthorpe, who has nearly three decades of experience in credit investing—previously holding senior roles at Goldman Sachs and Apollo—has expressed optimism about the potential for creating franchise and team value in global golf, particularly through team-format events that differentiate LIV from traditional golf tournaments. Speaking at a recent sports industry conference in London, he highlighted the opportunity to provide investors with exposure to golf via this alternative model.

The bankruptcy process under the U.S. Chapter 11 system encourages restructuring and entrepreneurship, enabling companies to reorganize rather than simply liquidate. Goldthorpe’s strategy goes beyond acquiring distressed assets for quick profit: he envisions building a new business entity atop LIV’s remains that could ultimately generate substantial earnings. BC Partners has rejected characterizations of itself as a “vulture” investor, emphasizing a longer-term vision. This approach aligns with its previous experience in sports acquisitions and creation of conglomerates.

Despite this ambition, BC Partners has so far invested only $4 million into the effort and remains dependent on securing player commitments to move forward. Sources close to BC indicate confidence that once one high-profile player commits, others will follow, but given ongoing tensions and resistance from established golf institutions—the PGA Tour and Europe’s DP World Tour—the path to gaining sufficient talent remains uncertain. Both rival tours are reportedly reluctant to allow their players to participate in LIV events, reflecting lingering animosities and competitive concerns.

The proposed LIV 2.0 schedule features 17 tournaments globally, including 10 “signature” events, with numerous potential co-investors reportedly interested. Meanwhile, the original LIV Golf’s bankruptcy proceedings continue to present legal and financial challenges. PIF is negotiating liability releases with players owed roughly $400 million and creditors claiming over $100 million, setting the stage for complex discussions over unresolved obligations.

With multiple hurdles ahead, BC Partners’ involvement reflects a blend of financial expertise and entrepreneurial resolve. Whether LIV 2.0 can overcome skepticism, secure player buy-in, and establish itself amid entrenched rivalries in professional golf remains to be seen. Nonetheless, the attempt underscores growing interest in innovative approaches to sports investment and league management.