Rahm rejects LIV 2.0
Jon Rahm will not participate in LIV Golf 2.0 after his lawyer John Beck told a U.S. Bankruptcy Court of New Jersey hearing that Rahm “has independently reviewed the proposed terms of LIV 2.0, as the parties have been referring to it, and has determined that those terms are unacceptable as to him, and he will not be participating going forward in LIV 2.0.”
LIV’s bankruptcy case has been tied to Saudi Arabia’s Public Investment Fund withdrawing its multibillion-dollar funding, and the league has secured possible financing from BC Partners Credit of up to $300 million to try to move forward with the 2027 season.
BC Partners funding pledge4 of 12 outlets reported it · not in Fox News and 7 more▾
Rahm’s exit comes as other LIV players sought court help to terminate their contracts and clarify their ability to negotiate with other tournament organisers and sponsors as their LIV contracts go unpaid.
LIV participants are owed at least $45m (£33m) and have the option to leave, while it is hoped a separation agreement could be finalised by a court hearing on 5 November.
The dispute over LIV 2.0 terms is now set against a backdrop where Rahm tops the list of unsecured claims at $7.5m (£5.5m), according to documents outlining the money owed to LIV Golf’s creditors.
Court talks and deadlines
John Beck told the court that “advanced discussions for a consensual separation agreement of Mr. Rahm and LIV” are ongoing, and he said that agreement is expected to be presented before the court next month.
Court timing for deal3 of 12 outlets reported it · not in Fox News and 8 more▾
LIV and Rahm’s representatives were later described as being “in advanced discussions for a consensual separation agreement between Mr Rahm and LIV,” and talks were open until 25 October.
LIV moved its player-commitment deadline for next season back two weeks to Oct. 25, and Beck said Rahm and the league were working on a separation agreement with the goal to have it finalised by Oct. 15.
A bankruptcy hearing on Wednesday heard Rahm’s lawyer say “unacceptable” terms proposed by LIV 2.0 mean the Spaniard will shortly walk away from a tour that has lingering hopes of continuing as a going concern.
LIV faces a race against time to earn commitment from players of even average quality as it tries to continue with 75-man events into 2027.
What Rahm’s exit changes
Rahm’s departure is framed as a major blow to LIV’s relaunch efforts, with the BBC describing him as the “most high-profile name to join LIV” when he left the PGA Tour in December 2023 for a deal worth a reported £222m ($300m). LIV’s next phase is tied to BC Partners Credit’s proposed $300 million investment, and the BBC said the financing is secured to help the league try to move forward with the 2027 season. Rahm’s unsecured claim is $7.5m (£5.5m) and the documents outlining the 30 largest unsecured claims show he tops the list, while there is no obligation on players to sign on to LIV 2.0 regardless of whether they had previously signed multi-year contracts with LIV Golf.
Rahm’s departure is likely to be only the start of a mass exodus, and it named Tyrrell Hatton, Tom McKibbin, Cameron Smith, Joaquin Niemann and Adrian Meronk as players expected to flee when legalities permit. The PGA Tour has said it currently has no plans to offer LIV players a pathway back, while the DP World Tour offers a pathway because the leading 10 players on the European circuit currently gain access to PGA Tour membership.
What some reports left out
PGA Tour has no plans to offer Returning Member Program for LIV players
Reported by: RG.org
Not found in: BBC, CBS Sports, Fox News, Golf Channel, The Guardian, Sky Sports, The New York Times, ABC News