Jon Rahm agrees to forfeit remaining LIV Golf money in separation deal

Right · 2Jon Rahm has reached a separation agreement with LIV Golf under which he forfeits the remainder of the money owed to him under his contract. 1 2 Right · 2Fox News puts the forfeited sum at an estimated $100 million, while GB News gives £75.5 million; both outlets describe the figure as the remainder of his contract. 1 2 Right · 2In return, Rahm is to get his name, image and likeness rights back. GB News says that includes his "Rahmbo" nickname and the "Legion XIII" team brand. Fox News attributes the rights detail to ESPN, citing court records. 1 2

Right · 1GB News describes the deal as a "consensual separation agreement" in which Rahm gives up all monetary and economic claims against the league. It says he was LIV's largest unsecured creditor, and that the agreement awaits approval from US Bankruptcy Court of New Jersey Judge Michael B Kaplan at a hearing on 5 November. 2 Right · 2Both outlets say Rahm's side objected to the terms of the restructured "LIV 2.0". Fox News says his attorneys told a bankruptcy hearing last week that the terms were "unacceptable", and GB News says he found the conditions unacceptable and will play no part in the league when it returns in 2027. 1 2 Right · 1LIV filed for Chapter 11 bankruptcy in New Jersey last month. Fox News says the Saudi Public Investment Fund (PIF) halted funding in April to redirect money to domestic projects and manage financial pressures from the regional war with Iran. It adds that PIF governor Yasir Al-Rumayyan then resigned from LIV's board. 1

Right · 1GB News says private equity firm BC Partners will step in as the tour's new backer. It says Bryson DeChambeau is expected to re-sign for an equity stake in the reconstituted league, and that Tyrrell Hatton is among those able to end their involvement. 2 Right · 1Fox News says the remaining golfers have until 25 October to decide whether to stay for LIV 2.0, and that the league might cease operations. It reports that LIV has laid off most of its operational staff and faces a lawsuit from the Premier Golf League. It also says the DP World Tour announced this week that LIV players would no longer be allowed to play its events. 1 Right · 2Rahm, 31, is a two-time major winner (2021 US Open, 2023 Masters) and won LIV's individual title in each of the last three years. He joined in a deal Fox News says was rumoured at $300 million to $600 million; GB News gives a reported £258 million. 1 2

Right · 1The two outlets differ on how much was still owed when LIV filed for bankruptcy: GB News says £5.7 million of his contract was owed then, which sits oddly beside its £75.5 million figure for the remainder of the contract. 2