Jon Rahm reaches separation deal with LIV Golf

Spanish golfer Jon Rahm has reached a separation agreement with LIV Golf amid the league's Chapter 11 bankruptcy proceedings. According to court documents filed in New Jersey, Rahm will waive all financial claims against the circuit in exchange for retaining control over his name, image, and likeness rights, as well as the intellectual property and trademarks for his team, Legion XIII.

Rahm was LIV Golf's largest unsecured creditor, with $7.5 million in missed payments owed at the time of the bankruptcy filing. While his original contract was reportedly valued at approximately $300 million, the new agreement effectively sees him renounce claims totaling an estimated $150 million.

The deal follows the withdrawal of funding from Saudi Arabia’s Public Investment Fund, which has prompted LIV to seek new financing through BC Partners Capital. Judge Michael B. Kaplan is expected to approve the agreement next month. Additionally, a motion was approved to reject current contracts for 19 other golfers, including Bryson DeChambeau and Dustin Johnson, allowing them to seek other options as LIV attempts to restructure its remuneration framework.