Jon Rahm will waive the approximately £75m owed to him by LIV Golf after reaching a separation agreement that will allow him to exit the league. The Spaniard relinquished his entire claim in order to achieve, as reported, a full financial exit.
LIV Golf filed for Chapter 11 bankruptcy protection in the United States in September, after the Saudi Public Investment Fund withdrew its multi-billion-pound backing. Rahm was listed in those proceedings as the organisation's largest unsecured creditor, with £5.5m (7.4m dollars) owed to him for the remainder of the 2026 season.
According to an ESPN report, Rahm is owed approximately $100m (£75m) of the remaining $300m (£222m) contract he signed when he left the PGA Tour and moved to LIV Golf in December 2023. The league secured potential financing of $300m from BC Partners Credit in an attempt to continue operations under the name 'LIV 2.0', but Rahm deemed the proposed terms unacceptable.
Through the agreement, Rahm takes over the rights to the name 'Legion XIII', the LIV team he captained. However, the name cannot be used to found a team in the TGL, the indoor high-tech golf league launched by Tiger Woods and Rory McIlroy.
Rahm was the most high-profile name to switch to LIV Golf. Some players, including Brooks Koepka, have since returned to the PGA Tour, which rewrote its rules in December to enable the five-time major champion to return, subject to certain sanctions. Rahm did not follow that example and remained bound by a long-term contract with LIV.
In May, Rahm reached an agreement with the DP World Tour, formerly the European Tour, retaining his membership and the right to compete in the next Ryder Cup. LIV golfers were automatically suspended for a year on the PGA Tour, while the DP World Tour offers a route because the leading ten players on the European tour currently earn PGA Tour membership. In August, the former world number one Rahm won his third consecutive LIV season title. He has previously stated that he has no regrets about switching to LIV and believes the organisers will succeed in making the league sustainable.
