1 hr ago
Jon Rahm Rejects LIV Golf Terms as Tour Plans Relaunch
Jon Rahm is a famous golfer who joined LIV Golf.
His lawyer says Rahm does not accept the terms LIV has proposed for its planned comeback.
Rahm and LIV are talking about how he might leave the tour.
They may bring an agreement to a bankruptcy court next month.
LIV ran into financial trouble after its main backers stopped providing money.
The tour is looking for investors and hopes to restart in 2027.
A new investor has promised an initial contribution of up to $300 million.
The PGA Tour says it currently has no plan for LIV golfers to return.
Jon Rahm’s lawyer said Rahm will not participate in LIV Golf’s proposed “LIV 2.0” under its current terms.
Rahm’s representatives and LIV are discussing a consensual separation agreement, which may be presented to court next month.
LIV Golf filed for bankruptcy protection after its Saudi backers withdrew funding, and is seeking investors to relaunch in 2027.
Bankruptcy filings estimate LIV owes $500 million to $1 billion to at least 1,000 creditors.
New lead investor BC Partners Credit has pledged an initial commitment of up to $300 million; the PGA Tour says it has no current plan for a pathway back for LIV players.
- Who
- Jon Rahm, through his lawyer John Beck, and LIV Golf.
- What
- Rahm says he will not participate in LIV Golf’s proposed LIV 2.0 under the current terms; the parties are discussing a separation agreement.
- Where
- The statement was made at a U.S. Bankruptcy Court of New Jersey hearing.
- When
- The announcement was made Wednesday; the agreement is expected to be presented to court next month.
- Why
- Rahm’s lawyer said the proposed LIV 2.0 terms were unacceptable to him.
Rahm’s position
LIV Golf’s relaunch
Proposed LIV 2.0 terms
Rahm’s position
Rahm independently reviewed the proposed terms and considers them unacceptable; he will not participate.
LIV Golf’s relaunch
LIV is attempting to relaunch as LIV 2.0 and is discussing a consensual separation agreement with Rahm.
Potential return to the PGA Tour
Rahm’s position
Reports have linked several LIV players with possible returns to the PGA Tour.
LIV Golf’s relaunch
The PGA Tour says it currently has no plans to offer LIV players a pathway back.
Key facts
- Rahm’s stated decision
- He will not participate in LIV 2.0 under the proposed terms.
- Separation talks
- Advanced discussions for a consensual separation agreement are ongoing.
- Expected court timing
- The agreement is expected to be presented next month.
- Estimated LIV liabilities
- $500 million to $1 billion owed to at least 1,000 creditors, according to bankruptcy filings.
- Investor commitment
- BC Partners Credit pledged an initial funding commitment of a potential $300 million.
- Relaunch plan
- LIV is seeking to relaunch in 2027 with a shorter schedule and reduced prize money.
- PGA Tour position
- The tour says it currently has no plans to offer LIV players a pathway back.
Quotes
John Beck
Lawyer representing Jon Rahm
“Mr. Rahm has independently reviewed the proposed terms of LIV 2.0 as the parties have been referring to it, and has determined that those terms are unacceptable as to him, and he will not be participating going forward in LIV 2.0.”
wionews.com
Sources
Related news
LIV Golf Secures Initial Investment as It Seeks Bankruptcy Exit
Popular Vehicles Promoter John K. Paul to Exit Business
Sports Ministry Forms Committee to Revive Hockey India League
Thomas, Chirravuri Make Cut in Crucial Golf Tournament
The Pindiz Denies Owner Ultimatum Over Rizwan Amid Inquiry
Mandaviya Orders Panel to Plan Hockey India League Revival
Saudi Arabia Unveils Sci-Fi-Inspired Exobot Electric Flagships
Saudi Arabia reportedly shelves NEOM stadium plans for 2034
Saudi Arabia Seeks India as Vision 2030 Broadens Beyond Oil
