iStockphoto / ohn (Jack) Power-Imagn Images
Jon Rahm over spiral of hundred-dollar bills
There’s no telling what the future holds for Jon Rahm after he decided to sever ties with LIV Golf. However, it’s hard to imagine he’ll be making the kind of money he voluntarily forfeited after opting to abandon the league he joined forces with in 2023.
LIV Golf added five players to its roster ahead of the start of its third season in 2024, and none of those newcomers were more notable than Jon Rahm, who was sitting in the third spot in the Official World Golf Rankings when he announced he was defecting from the PGA Tour.
He joined the lengthy list of players who were criticized for teaming up with LIV, especially when you consider he had previously said he had no interest in the league while asserting he didn’t need the boatloads of money he’d undoubtedly receive for making the leap.
However, he ultimately accepted a contract that was reportedly valued at $350 million, and while he recorded three Top 10 finishes at the majors he competed in during his time with LIV, he was one of the many golfers who became a bit of an afterthought while primarily competing in tournaments most fans of the sport could not care less about.
He’ll be entering a new chapter after bringing that era to an end after three seasons, and his decision to do so was a pretty costly one.
Jon Rahm reportedly gave up over $100 million to rid himself of LIV Golf
LIV Golf is currently in the midst of a bankruptcy proceeding designed to facilitate a reboot that hinges on the $300 million it secured after Saudi Arabia’s Public Investment Fund decided to cut its losses. However, its future is still very much up in the air.
BC Partners Credit is the investment firm that swooped in to save the league, but the details of that deal revolve around “a business plan that includes players required by BC Partners.”
It seemed very safe to assume Rahm was on that initial list, but earlier this month, he announced he won’t be moving forward with LIV due to what his attorney described as “unacceptable” terms in the proposed agreement.
Rahm was listed as a creditor who was owed $7.5 million when the bankruptcy filing surfaced in September, but according to ESPN, the two sides reached a separation settlement on Wednesday in which the 31-year-old Spanaird agreed to “release all of his monetary and economic claims,” which includes the more than $100 million he was reportedly still owed on his contract.
He also forfeited his ownership stake in his team, Legion XIII, although he will still retain the trademark (as well as that for “Rahmbo”).
It’s safe to assume Rahm will be just fine, as he’s also made over $55 million in PGA Tour events and $35 million on the DP World Tour. It appears he will be focusing on tournaments organized by the latter in an attempt to mount a return to the former, although there’s currently no clear timeline for that comeback.