LIV Golf appears to be in turmoil as the organisation has recently filed for bankruptcy. The tour is now undergoing major restructuring amid a financial crisis after Saudi Arabia's Public Investment Fund (PIF) withdrew its long-term financial backing, triggering the bankruptcy.

After the PIF withdrew its funding from the Tour, LIV had no choice but to file for a Chapter 11 bankruptcy, a legal process that allows the corporation to restructure its debts while continuing to stay open. LIV put forward a proposed $300 million investment from BC Partners Credit, whilst attempting to transition into a new player-owned model.

However, with much uncertainty facing the future of LIV Golf, many of its biggest and highest-paid players have opted to leave or reached separation agreements rather than commit to the player-owned model, including Jon Rahm, who reportedly walked away from millions he was owed after deeming the new terms offered to him unacceptable.

Following the mass exodus, some of the biggest stars have seen their LIV payments over the past year leaked online.

Rahm and DeChambeau Contracts Revealed

Following LIV filing for Chapter 11 bankruptcy, proceedings required public disclosure of assets and liabilities and ongoing financial obligations, meaning some of the biggest players had their contracts publicly displayed as they were still owed salaries.

Two of those players were Jon Rahm and Bryson DeChambeau, with Wall Street editor and Financial Times golf correspondent Sujeet Indap posting the two players' salaries over the past year onto social media.

According to the documents, for the last year, Rahm was paid $20,335,069.29, whilst DeChambeau earned just under half, taking home $9,087,865.89.

The document also shows the reason for payments, with all listed as either Expense reimbursements or PPA payments. It is unsure whether these payslips include any other money, such as bonuses or prize money, therefore meaning the actual total could be much more for players.

For Rahm, his payslip appears to show he was paid precisely $4,946,428.57 on four separate occasions, with each transaction labelled as a PPA payment, coming every three months according to the payslip. It follows a similar pattern to DeChambeau, who was also paid the same amount of money every three months. However, Rahm appeared to earn almost double the amount from these recurring payments compared to DeChambeau.

Rahm was also given five reimbursement payments, two more than DeChambeau, whose reimbursement payments were a smaller sum. It isn't certain what the expense reimbursement sums are for, but it may well be for covering the costs players paid for costs related to their work at LIV.

LIV Golf Future

Following its bankruptcy filings, LIV has vastly scaled back its operations and significantly laid off the majority of its staff to cut back costs. Many contract obligations remain unpaid whilst BC Partners Credit have backed the relaunch, dubbed as 'LIV 2.0'.

The future of the tour hinges on the successful launch of LIV 2.0, which is expected in 2027. The tour will relaunch as a vastly scaled-back and player-owned version, but legal teams admit that the next few weeks will determine whether the league can continue or if it will be forced to come to a complete stop.

Any players who sign on will become majority owners of the reorganised company, giving a direct stake in its survival. It will become a much more disciplined company with a tighter 10-event global schedule, with an expanded player field along with a traditional cut line and qualifiers. Guaranteed prize purses will be a lot smaller than the once monstrous packages players received in LIV 1.0.