Jon Rahm will forfeit £75million allegedly owed to him by LIV Golf after reaching a separation deal that will guarantee his exit from the league.
The league filed for Chapter 11 bankruptcy in the United States in September after Saudi Arabia’s Public Investment Fund withdrew its multibillion-dollar support.
Spaniard Rahm was on the organization’s list of major unsecured creditors when LIV filed for bankruptcy, with $7.4 million (£5.5 million) owed to him for the remainder of the 2026 season alone.
ESPN reported that he was owed around $100 million (£75 million)., external from the remainder of the $300m (£222m) contract he signed when he left the PGA Tour for LIV Golf in December 2023.
Although LIV secured a possible $300 million in financing from BC Partners Credit to attempt to move forward with “LIV 2.0,” Rahm deemed the proposed terms “unacceptable.”
Instead, he waived his entire claim in order to receive a “full economic withdrawal.”
However, he will take the rights to “Legion XIII” – the name of the LIV team run by Rahm – although he will not be allowed to use it to field a team in TGL – the high-tech indoor golf league started by Tiger Woods and Rory McIlroy.
Rahm was the highest-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 return, subject to certain sanctions.
Rahm did not follow suit and remained under long-term contract with LIV, but in May reached an agreement with the DP World Tour – formerly European Tour – to retain his membership and remain eligible for next year’s Ryder Cup.
LIV golfers are automatically banned for one year by the PGA Tour. The DP World Tour provides a pathway as the top 10 players on the European Tour currently have access to PGA Tour membership.
In August, former world number one Rahm won his third consecutive LIV season title.
He previously said he had no regrets about joining LIV and supported the organizers in making it sustainable.
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