Jon Rahm and LIV Golf reached a separation agreement Wednesday in which the former World No. 1 agreed to forgo the remainder of the money on his contract in exchange for the return of his name, image, and likeness rights, according to court records obtained by ESPN's Mark Schlabach.
Rahm was owed $7.5 million as an unsecured creditor when LIV filed for Chapter 11 bankruptcy in September. He's believed to have had more than $100 million remaining on his contract, according to Schlabach.
LIV lured Rahm from the PGA Tour in December 2023 on a multi-year contract worth approximately $350 million. When he joined the breakaway circuit, he was immediately made captain of a new franchise, Legion XIII.
Rahm was LIV's individual champion in all three seasons he played and won four tournaments. He took home approximately $107 million in on-course earnings.
His representatives announced last week that Rahm is opting out of LIV 2.0, describing the revamped league's terms as "unacceptable." It's not clear yet what LIV's new format will be.
The 31-year-old turned down an opportunity to return to the PGA Tour earlier this year under the same Returning Member Program that Brooks Koepka utilized. The Tour has been adamant that the program was a one-time offer.
Rahm could spend the 2027 season on the DP World Tour. He remains eligible to participate in all four majors.
