LIV Golf Restructuring Faces Rahm Departure as $300m Funding Takes Shape

LIV Golf’s proposed restructuring faces a significant challenge after Jon Rahm’s representatives confirmed that the golfer does not intend to participate under the proposed new arrangements.

The development follows the league’s Chapter 11 filing in September and changes to the funding structure behind the Saudi-backed competition.

BC Partners Credit has outlined financing of up to US$300 million to support the restructuring and a potential return in 2027, subject to court approval and other conditions.

Proposals include giving players equity interests in the league and their teams, replacing parts of the earlier model built around large guaranteed contracts.

The future structure, player participation and commercial arrangements remain central questions for broadcasters, sponsors and investors as the competition seeks a more sustainable operating model.

The restructuring support agreement was filed in the US bankruptcy proceedings on 5 October. It outlines a proposed investment from BC Partners Credit and a revised league structure that would give participating players ownership interests alongside other investors.

The new model is intended to reduce reliance on the guaranteed-contract structure that characterised LIV Golf's initial expansion. Players would be offered equity and other contractual incentives, but the proposed terms remain subject to negotiation and court approval.

The deadline for existing players to commit to the restructured competition has been extended to 25 October. That timetable puts athlete participation at the centre of the financing and planning process, with organisers seeking commitments before finalising the next season.

Jon Rahm's reported decision not to join the proposed structure is particularly significant given his profile and previous role in the competition. Other players and their representatives are also considering the terms, and participation cannot be assumed.