LIV Golf Insiders Say They're 'Almost Resigned' to Losing Jon Rahm as League Scrambles for New Investor

Jon Rahm has not said he's leaving LIV Golf. But according to The Telegraph's James Corrigan, people inside the league are already bracing for it.

Corrigan reported Thursday that LIV sources are "almost resigned" to Rahm departing at the end of the 2026 season, with the DP World Tour reportedly already "primed" about his intentions. Rahm, 31, is expected to make a final call in the coming weeks, according to the report, cited by outlets including Yahoo Sports, the New York Post, GolfMagic, TSN and Bleacher Report.

Nothing is finalized. Rahm has two years left on his LIV contract. But the fact that insiders are talking like this is already a problem for a league trying to convince a new investor it has a future worth funding.

Why This Differs from Koepka or Reed

Brooks Koepka and Patrick Reed have already left LIV. Reed becomes eligible to return to the PGA Tour on Aug. 25, according to Yahoo Sports. Neither exit rattled the league the way a Rahm departure would.

Rahm is a two-time major champion, winner of the 2021 U.S. Open and the 2023 Masters. He signed with LIV in December 2023 for a deal reportedly worth around $300 million to $350 million, becoming captain of Legion XIII, according to GolfMagic. He's LIV's most consistent performer and just won his third straight Individual Championship title, per GolfMagic.

Bleacher Report's Scott Polacek put it plainly: a Rahm exit would leave Bryson DeChambeau as arguably the only remaining name capable of drawing casual fan interest. That's the entire star wattage of a league that once poached Dustin Johnson, Cameron Smith, Koepka and Reed in one swoop.

The Money Problem Behind the Decision

The timing traces back to Saudi Arabia's Public Investment Fund, which announced earlier this year it will stop funding LIV Golf after the 2026 season. PIF has pumped more than $5 billion into the project since launch, while LIV has racked up losses understood to exceed $1 billion, according to GolfMagic.

LIV CEO Scott O'Neil confirmed Wednesday at the league's Trump Bedminster event that a "term sheet" has been signed with a lead investor, widely reported to be BC Partners. O'Neil said he's hopeful a concrete agreement gets announced in September, according to Fox News. The New York Post's Mark Cannizzaro first reported LIV was closing in on funding back on July 29.

But the Financial Times reported that BC Partners wants assurances the league will keep enough marquee talent to stay commercially viable. Rahm and DeChambeau top that list, according to Heavy. If Rahm walks, it's not just LIV losing a great player. It's LIV potentially losing the financing that keeps the whole operation running past this year.

According to the Telegraph's reporting, Rahm isn't excited about LIV's proposed "2.0" format: roughly 10 events, smaller purses, and players getting equity in the league instead of straight cash. Rahm is reportedly still owed nine figures of his original $300 million signing package, and it's unclear how or whether that gets paid if he walks away from a shrinking, cash-strapped league.

The DP World Tour Squeeze

There's a second pressure point. The Athletic's Gabby Herzig reported Aug. 12 that the DP World Tour has begun telling LIV players directly that the conditional-release arrangement letting them play both tours fine-free will not survive past 2026.

Eight LIV players struck fine-payment deals with the DP World Tour in February: Tyrrell Hatton, Laurie Canter, Thomas Detry, Tom McKibbin, Adrian Meronk, Victor Perez, David Puig and Elvis Smylie. Rahm settled his own separate dispute with the tour in May after months of public clashing, according to Heavy. But the tour made clear from the start none of these deals set a precedent, and with releases vanishing after this season, Rahm's arrangement may only last one more year regardless of what he decides now.

That matters beyond scheduling. TSN notes the DP World Tour runs the Ryder Cup when it's held in Europe, and the 2027 edition is set for Adare Manor in Limerick, Ireland. Failing to reach terms with the DP World Tour would hurt any LIV player's chances of making that team.

What's Actually Confirmed vs. What Isn't

None of this is finalized. GolfMagic explicitly notes Rahm "has not yet confirmed that he is leaving LIV Golf," and Corrigan's own reporting says a final decision is still weeks away. This is sourced to LIV insiders' expectations, not a Rahm statement or an official announcement.

The bind TSN's report highlights cuts both ways: if Rahm, DeChambeau or Cameron Smith leave, it would actually help LIV rein in the runaway spending it's trying to escape as it rebuilds its business model. But it would simultaneously make the league far less attractive to the very investors it needs to survive. There's no version of this where LIV wins cleanly either way.

Meanwhile, the league's season-ending Team Championship at The Cardinal at St. John's in Michigan, originally scheduled for Aug. 27, has reportedly been cancelled, according to TSN, with the venue apparently unprepared to host a major event. Golf blog Flushing It has also reported growing numbers of LIV contractors and vendors saying they're owed money, with demand letters from lawyers allegedly being ignored, though those claims have not been independently verified by mainstream outlets.

Rahm's decision, whenever it lands, will answer a lot of questions at once: about LIV's roster, its finances, and whether BC Partners' money actually shows up in September as O'Neil hopes.