South Australia is facing the loss of one of its biggest international sporting events, with LIV Golf announcing plans to permanently wind down its global operations after a last-ditch financial rescue deal collapsed.
The shock announcement on Friday, November 6, effectively spells the end of LIV Golf Adelaide in its current form, leaving the planned 2027 tournament at Kooyonga Golf Club and the competition’s longer-term future in South Australia in serious doubt.
The Saudi-backed golf league confirmed that its proposed recapitalisation agreement with BC Partners Credit had been terminated after the parties failed to reach an agreement on outstanding terms.
The company had been pursuing a financial restructuring through voluntary Chapter 11 bankruptcy proceedings in the United States, but will now transition towards an orderly wind-down of operations.
For Adelaide, the development is particularly significant.
Since its arrival in South Australia in 2023, LIV Golf Adelaide has grown into one of the league’s most celebrated international tournaments, bringing some of the world’s biggest golfing names to the state and attracting thousands of interstate and international visitors.
The 2026 event reportedly drew a record 115,000 spectators, cementing its position as a major fixture on South Australia’s sporting calendar.
The tournament had also been expected to enter a new chapter, with plans to move to North Adelaide in 2028 as part of a longer-term agreement extending through to 2031.
Those plans now face an uncertain future.
In a statement announcing the decision, Gene Davis and Jon Zinman of LIV Golf’s Board Special Committee said the organisation had exhausted its attempts to secure a viable financial future.
“In light of the current circumstances, we believe shifting toward an orderly wind-down is the most responsible path forward for the League at this time.”
The committee also acknowledged the contribution of the league’s players, employees, partners and fans.
LIV Golf CEO Scott O’Neil reflected on the competition’s achievements, including bringing professional golf to new audiences through a combination of elite sport, live entertainment and fan experiences.
“Building a global platform designed to bring new, younger, and more diverse fans to the sport of golf has been the round of a lifetime for all of us.”
The organisation said it would remain open to alternative proposals from third parties during the wind-down process, although no replacement transaction has been announced.
While the league has not formally confirmed the cancellation of LIV Golf Adelaide, the decision to close its global operations leaves little prospect of the tournament proceeding as originally planned without a significant financial rescue or new operating arrangement.
The announcement also raises questions about the future of existing hosting agreements, tourism commitments and the broader economic impact of losing a major international sporting event from South Australia’s calendar.
For the thousands of fans who have embraced LIV Golf Adelaide over the past four tournaments, the news marks what appears to be the end of a remarkable chapter in the state’s sporting history.
Premier Peter Malinauskas has also acknowledged the tournament is unlikely to return, telling ABC Radio Adelaide on Thursday:
“It feels like it’s game, set and match as far as I can tell.”
He said the collapse of the proposed financial rescue reflected concerns about whether the competition could attract enough leading players to deliver the standard of tournament Adelaide had previously hosted.
The Premier added that the event, as things stood, would not be proceeding at Kooyonga in 2027. 
The news also places renewed scrutiny on the $45 million North Adelaide Golf Course redevelopment, originally intended to accommodate LIV Golf from 2028.
However, the State Government has secured a separate six-year agreement with Golf Australia to bring the Australian Open to Adelaide, providing another major international golf event for the state.
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