LIV Golf plans to shut down

LIV Golf, the breakaway golf tour backed by Saudi royalty and some of the biggest names in the game, said Thursday it planned to wind down — a stunning conclusion to an effort that had received billions of dollars in backing.

In a statement , LIV said discussions with financial backer BC Partners had failed to produce an agreement to keep the league going.

“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,” LIV said in the statement.