Jon Rahm Rejects LIV Golf 2.0 Terms Amid League's Bankruptcy
Star golfer's attorneys declare proposed restructuring plan unacceptable as LIV Golf faces millions in debt.
Golfer Jon Rahm will not participate in the restructured LIV Golf 2.0, his attorneys announced during the league's Chapter 11 bankruptcy hearing. The decision comes as LIV Golf faces significant financial challenges, including millions of dollars in unpaid compensation owed to top players.
Attorneys for Rahm stated that he has reviewed the proposed terms for "LIV 2.0" and found them to be "unacceptable." This marks a significant development for the struggling golf league, which had been relying on a proposed restructuring plan to remain operational.
The Public Investment Fund (PIF), LIV Golf's primary financial backer, halted its monetary commitment in April. This decision was reportedly to redirect funds toward domestic projects and manage financial pressures related to regional conflicts. Following this withdrawal, PIF governor Yasir Al-Rumayyan resigned from LIV's board.
LIV Golf filed for Chapter 11 bankruptcy in New Jersey last month. Filings indicate that between 2021 and 2026, the league spent an estimated $5 billion to $8 billion. The bankruptcy proceedings revealed millions owed in unpaid compensation to prominent golfers, including Rahm, Bryson DeChambeau, Dustin Johnson, and Cam Smith.
Reports suggest Rahm is owed over $7 million and was reportedly willing to fulfill the original terms of his contract. The PIF has provided $50 million to help LIV Golf cover its operational expenses during the bankruptcy proceedings.
The proposed "LIV 2.0" plan involves London-based private equity firm BC Partners, which has financial ties to player agency GSE Worldwide. This firm would reportedly fund a 2027 relaunch and grant players majority ownership of the league.
LIV Golf has already laid off a significant portion of its staff and faces lawsuits from the Premier Golf League over alleged breach of confidence and conspiracy. Event contractors are also reportedly awaiting payment.
Prior to Rahm's announcement, other notable players had departed LIV Golf. Brooks Koepka was among the first to return to the PGA Tour late last year, followed by Patrick Reed. The league's financial instability also led to the cancellation of its championship weekend, which was rescheduled to be played a week earlier than initially planned.
Rahm, a two-time major winner, secured the 2021 U.S. Open and the 2023 Masters. He and Tyrell Hatton represented LIV Golf on Team Europe in the most recent Ryder Cup.