Home · Sports · Oct 7 archive
Rahm Leaves LIV Golf, Dealing Blow to Bankrupt League
Developing
In Short: Two-time major champion Jon Rahm is leaving the LIV Golf League, citing unacceptable terms for the league's next phase.
Two-time major champion Jon Rahm is leaving the LIV Golf League, citing unacceptable terms for the league's next phase, according to his attorney, John Beck.
Rahm, 31, was a linchpin for LIV Golf's hopes to keep the circuit alive after the league filed for Chapter 11 bankruptcy protection on September 15.
Rahm had signed with LIV Golf in December 2023, and the league's recruitment of the reigning Masters champion was considered a major coup.
According to court records, LIV Golf and its related entities have between $100 million and $500 million in assets and $500 million to $1 billion in liabilities.
LIV Golf CEO Scott O'Neil has said that the second iteration of the league would include 10 tournaments with smaller purses.
Rahm was a four-time winner in the LIV Golf League and was the circuit's seasonlong individual champion in each of the past three seasons.
Rahm's departure comes as the PGA Tour CEO Brian Rolapp affirmed that the tour currently had no plans to bring back the Returning Member Program, which would allow Rahm, Bryson DeChambeau, and Cameron Smith to return under certain conditions.
Rahm's attorney, John Beck, said that Rahm and LIV Golf were working to finalize a separation agreement by October 15.
Rahm had reportedly received a multiyear contract worth more than $300 million when he signed with LIV Golf.
Beck stated, 'Mr. Rahm has independently reviewed the proposed terms of LIV 2.0 and has determined that those terms are unacceptable to him, and he will not be participating going forward in LIV 2.0.'
What this adds
Rahm's departure is a significant blow to LIV Golf's efforts to restructure and continue operations without Saudi Arabia's Public Investment Fund funding.
The PGA Tour's stance on the Returning Member Program further complicates Rahm's options for returning to the traditional tour.
LIV Golf's financial situation remains precarious, with substantial liabilities outweighing its assets.
Background
Two-time major champion Jon Rahm is leaving LIV Golf, citing unacceptable terms for the league's next phase.
What's still developing
- Two-time major champion Jon Rahm is leaving the LIV Golf League, dealing a blow to the breakaway golf circuit that is trying to emerge from federal bankruptcy without funding from Saudi Arabia's Public Investment Fund.
- "I'm pretty sure they did a pretty good job when they drafted that, so I don't see many ways out. Right now, I'm not really thinking about it because we still have a season to play and majors to compete for. It's not something I want to think about just yet."
- One of those conditions of the agreement is the "execution of New Player Agreements consistent with the LIV 2.0 business plan that include players required by BC Partners."
- "Right now, I have several years in my contract left," Rahm said in May.
- Rahm is a member of the DP World Tour after resolving his dispute with the European tour in May.