Summary
Jon Rahm, a top golfer and former world number one, has decided to leave the LIV Golf tour because he disagrees with the terms of its new plan. LIV Golf is dealing with bankruptcy and trying to reorganize, while several players are also seeking to end their contracts due to unpaid earnings.Key Facts
- Jon Rahm reviewed the proposed "LIV 2.0" plan and found the terms unacceptable.
- Rahm will not take part in LIV Golf’s next phase or new contracts.
- Other LIV Golf players are asking a bankruptcy judge to end their contracts and clarify their rights to negotiate with other events and sponsors.
- LIV Golf has agreed to terminate Sergio Garcia’s contract and is considering terminating others.
- Rahm won three consecutive season-long titles on LIV Golf and joined the tour about eight months after winning the 2023 Masters.
- LIV Golf filed for Chapter 11 bankruptcy, listing several players, including Rahm, as owed money; Rahm’s claim is the highest at $7.5 million.
- LIV Golf secured up to $300 million in new funding from BC Partners, pending court approval, to support its reorganization and future plans.
- The new plan reportedly includes giving players ownership stakes in the league and teams.
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