Jon Rahm will leave LIV Golf after deeming the proposed terms for LIV 2.0 “unacceptable”, his lawyer has told a bankruptcy court hearing.<\/p>\n
The league, which filed for Chapter 11 bankruptcy protection<\/a> in the United States in September after Saudi Arabia withdrew its multibillion-dollar funding, has secured a possible $300m in financing<\/a> from BC Partners Credit in order to try to move forward with the 2027 season.<\/p>\n Rahm’s lawyer, John Beck, told the hearing the 31-year-old Spaniard “independently reviewed the terms of LIV 2.0 and determined those terms are unacceptable as to him”.<\/p>\n It was later said that LIV and Rahm’s representatives are “in advanced discussions for a consensual separation agreement between Mr Rahm and LIV”. <\/p>\n It is hoped this will be finalised by a court hearing on 5 November.<\/p>\n LIV’s participants are owed at least $45m (\u00a333m) and have the option to leave.<\/p>\n However, the agreement secures an extension for the league to discuss terms with its players, with talks now open until 25 October.<\/p>\n Documents outlining the money owed to LIV Golf’s creditors, with the 30 largest unsecured claims, show that two-time major winner Rahm tops the list with an unsecured claim of $7.5m (\u00a35.5m).<\/p>\n BBC Sport understands 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.<\/p>\n Spain’s Rahm was arguably the most high-profile name to join LIV when he left the PGA Tour in December 2023 for a deal worth a reported \u00a3222m ($300m).<\/p>\n Some players, including Brooks Koepka, have since returned to the PGA Tour, which rewrote its rules in December to allow the five-time major winner to come back, subject to certain sanctions.<\/p>\n Rahm did not follow suit and remained under long-term contract with LIV, but in May reached a deal with the DP World Tour – formerly the European Tour – to retain his membership and remain eligible for next year’s Ryder Cup.<\/p>\n In August, the former world number one won his third straight LIV season title.<\/p>\n He has previously said he had no regrets over joining LIV and backed organisers to make it sustainable.<\/p>\n Chapter 11 protection postpones a US company’s obligations to its creditors, giving it time to reorganise its debts or sell parts of the business.<\/p>\n Saudi Arabia’s Public Investment Fund (PIF) is providing a bankruptcy loan of $49.6m (\u00a336.6m) – called ‘debtor in possession’ (DIP) financing – to help fund the process.<\/p>\n","protected":false},"excerpt":{"rendered":"Jon Rahm will leave LIV Golf after deeming the proposed terms for LIV 2.0 “unacceptable”, his lawyer has…\n","protected":false},"author":2,"featured_media":874312,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[71],"tags":[427,99],"class_list":["post-874311","post","type-post","status-publish","format-standard","has-post-thumbnail","category-golf","tag-golf","tag-sports"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/posts\/874311","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/comments?post=874311"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/posts\/874311\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/media\/874312"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/media?parent=874311"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/categories?post=874311"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/tags?post=874311"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}