Jon Rahm will forfeit a reported £75m owed to him by LIV Golf after reaching a separation agreement that will secure his exit from the league. The league filed for Chapter 11 bankruptcy protection in the United States in September after Saudi Arabia's Public Investment Fund withdrew its multibillion-dollar backing. The Spaniard was listed as the organisation's top unsecured creditor when LIV filed, with $7.4m (£5.5m) owed to him for the rest of the 2026 season alone. ESPN reported he is owed about $100m (£75m) from the remainder of the $300m (£222m) contract he signed when he left the PGA Tour for LIV Golf in December 2023.
Despite LIV securing a possible $300m in financing from BC Partners Credit to pursue 'LIV 2.0', Rahm has deemed the proposed terms "unacceptable". Instead, he has waived his entire claim in order to secure a "complete economic walk-away". In return, he will take the rights to 'Legion XIII', the name of the LIV team Rahm captained, although he will not be allowed to use it to form a team in TGL, the indoor high-tech golf league launched by Tiger Woods and Rory McIlroy.
Rahm was the most high-profile name to join LIV when he left the PGA Tour. Some players, including Brooks Koepka, have since returned to the PGA Tour, which rewrote its rules in December to allow the five-time major winner to come back, subject to certain sanctions. Rahm did not follow suit and remained under long-term contract with LIV, but in May reached a deal with the DP World Tour, formerly the European Tour, to retain his membership and remain eligible for next year's Ryder Cup. LIV golfers are automatically banned for a year by the PGA Tour, while the DP World Tour offers a pathway because its leading 10 players currently gain access to PGA Tour membership.
In August, the former world number one won his third straight LIV season title. He previously said he had no regrets over joining LIV and backed organisers to make it sustainable.
Source: BBC Sport · Summarized by HeadlinesBriefing