Jon Rahm is officially out of LIV Golf, and it’s costing him.
The two-time major winner reached a separation agreement with the league in which he agreed to forfeit the remainder of the estimated $100 million owed to him. Rahm will have his name, image, and likeness rights returned to him as part of the deal, ESPN reported, citing court records.
Rahm shocked the golf world nearly three years ago when, after publicly dismissing the league, he joined it on a deal that was rumored to be between $300 million and $600 million.
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But at a bankruptcy hearing last week, Rahm’s attorneys stated that he would not be part of what has been dubbed “LIV 2.0” and its “unacceptable” terms.
LIV filed for Chapter 11 bankruptcy in New Jersey last month. Between 2021 and 2026, LIV spent an estimated $5 billion to $8 billion. Bankruptcy filings show the league owes millions of dollars in unpaid compensation to top players, including Rahm, Bryson DeChambeau, Dustin Johnson and Cam Smith.
The PIF halted funding in April to redirect money toward domestic projects and manage financial pressures from the regional war with Iran. Following the decision, PIF governor Yasir Al-Rumayyan resigned from LIV’s board.
Rahm won the league’s individual title in each of the last three years, making his defection from the league arguably its biggest hit.
The rest of the golfers have until Oct. 25 to decide whether they will stay for LIV 2.0 or follow in Rahm’s footsteps. There is a chance the league will cease operations.
The DP World Tour, formerly known as the European Tour, announced earlier this week that LIV players would no longer be allowed to play in its events. LIV golfers were allowed to play on the DP World Tour as long as they were in good standing and paid any fines for playing in LIV events that conflicted with the DP World Tour calendar — those fines were paid for by the PIF until 2025.
Rahm won the 2021 U.S. Open and the 2023 Masters. He and Tyrrell Hatton were the lone LIV golfers on Team Europe during last year’s Ryder Cup.
LIV has laid off most of its operational staff, left event contractors waiting for payment and faces a lawsuit from the Premier Golf League alleging breach of confidence and conspiracy.
Brooks Koepka was the first big name to leave LIV Golf, doing so late last year and returning to the PGA Tour. Patrick Reed followed in his footsteps shortly after.
Shortly after the PIF pulled its funding, LIV CEO Scott O’Neil said the LIV calendar would not be altered, but that did not occur. The league’s originally-scheduled championship weekend was canceled, forcing it to be played a week earlier.
OutKick’s Alejandro Avila contributed to this report.