The two-time major champion gave up more than $100 million in future guarantees as part of a separation agreement filed in LIV's bankruptcy case.
Jon Rahm is done with LIV Golf, and he's leaving the money on the table. A separation agreement filed late Wednesday in LIV's Chapter 11 bankruptcy case in New Jersey has Rahm releasing the league of "all monetary and economic claims" in exchange for getting back his exclusive name, image and likeness rights and other related marks.
That's a steep price. Rahm is LIV's largest unsecured creditor, owed $7.47 million in past unpaid dues according to bankruptcy filings, but he was widely believed to be sitting on more than $100 million in future guarantees from the multiple years left on his contract. All of it is now gone.
The move follows Rahm's lawyer telling the bankruptcy court on Oct. 7 that the golfer had no intention of competing on a reconstituted "LIV 2.0" in 2027 and beyond. The league itself is in flux: BC Partners Credit is lined up to provide $300 million in financing should LIV emerge from bankruptcy, with Saudi Arabia's PIF no longer bankrolling the operation.
Rahm's exit caps a turbulent run with LIV that started with a blockbuster signing and ends with him walking away from the remainder of a nine-figure contract rather than sticking around for whatever comes next.