People within LIV Golf are described as 'almost resigned' to two-time major winner Jon Rahm leaving the tour, The Telegraph reported on Thursday, as the league confirmed a new funding agreement with a lead investor amid the Saudi Public Investment Fund's earlier withdrawal.
Sources say LIV Golf members 'almost resigned' to Jon Rahm departure as league secures new investor
People within LIV Golf are described as 'almost resigned' to two-time major winner Jon Rahm leaving the tour, The Telegraph reported on Thursday, as the league confirmed a new funding agreement with a lead investor amid the Saudi Public Investment Fund's earlier withdrawal.
LIV Golf CEO Scott O'Neil confirmed Wednesday, at the league's Trump Bedminster event, that the organization had reached an agreement with a lead investor, identified as BC Partners in multiple reports. The New York Post had reported on July 29 that LIV was close to securing such funding.
According to the Financial Times, BC Partners would want assurances that the league's top stars remain. A departure by Rahm, the 2021 U.S. Open and 2023 Masters champion, could complicate those assurances. The Telegraph reported Rahm is still owed nine figures from his reported $300 million contract.
The DP World Tour, which reached an agreement with Rahm several months ago to allow him to participate in some of its events following a dispute, is described as 'increasingly confident' he will play more of their events next year, according to The Telegraph. A subsequent attempt to return to the PGA Tour would reportedly follow.
It is not established whether Rahm would be granted a quick pathway back to the PGA Tour, as Brooks Koepka was, or whether he would be required to sit out a period as Patrick Reed was — Reed becomes eligible to play on the PGA Tour again on Aug. 25.
Bryson DeChambeau's LIV contract is expiring, though he has publicly expressed commitment to the league; he has also raised the possibility of becoming a full-time YouTuber. LIV Golf's team championship, scheduled to begin in two weeks, has reportedly been cancelled, which would leave next week's event in Indianapolis as the league's last of the year.
- The source does not state whether Rahm himself has commented on or confirmed any intention to leave LIV Golf.
- The source does not state the specific terms or value of the BC Partners investment agreement.
- The source does not establish the exact number of events in LIV Golf's proposed restructured schedule or the scale of purse reductions.
- The source does not confirm whether LIV Golf's team championship cancellation is official or who announced it.
- The source does not state the precise remaining dollar amount owed to Rahm under his contract beyond describing it as 'nine figures'.
- The source does not include any response from Rahm's representatives or from BC Partners regarding the reported investment conditions.
Read the original at New York Post