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Jon Rahm will give up a reported \u00a375m owed to him by LIV Golf after reaching a separation agreement that will secure his exit from the league.<\/b><\/p>\n
The league filed for Chapter 11 bankruptcy protection<\/a> in the United States in September after Saudi Arabia’s Public Investment Fund withdrew its multibillion-dollar backing.<\/p>\n Spaniard Rahm was listed as the organisation’s top unsecured creditor when LIV filed for bankruptcy, with $7.4m (\u00a35.5m) owed to him for the rest of the 2026 season alone.<\/p>\n ESPN reported he is owed about $100m (\u00a375m), external<\/span><\/a> from the remainder of the $300m, (\u00a3222m) contract he signed when he left the PGA Tour for LIV Golf in December 2023.<\/p>\n Despite LIV securing a possible $300m in financing<\/a> from BC Partners Credit to try and move forward with ‘LIV 2.0’, Rahm has deemed the proposed terms are “unacceptable”<\/a>.<\/p>\n Instead, he has waived his entire claim in order to have a “complete economic walk-away”.<\/p>\n However, he will take the rights to ‘Legion XIII’ – the name of the LIV team Rahm captained – although he will not be allowed to use it to make a team in TGL – the indoor high-tech golf league launched by Tiger Woods and Rory McIlroy.<\/p>\n