LIV Golf has been dealt another huge blow just days after Jon Rahm reached a separation agreement that secured his exit from the league.

Rahm was the most high-profile name to join LIV Golf after penning a hugely lucrative deal worth a whopping $350 million — the largest contract in the breakaway tour's history.

He was owed millions from the contract he signed when he left the PGA Tour for LIV Golf in December 2023, but has waived his entire claim in order to have a 'complete economic walk-away'.

Rahm's fellow countryman Sergio Garcia has also had his contract terminated, as well as David Puig, Abraham Ancer and Adrian Meronk, not to mention 2016 Ryder Cup player Thomas Pieters and three-time PGA Tour winner Charles Howell III.

Even though Saudi Arabia's Public Investment Fund has withdrawn its investment, several players have committed to LIV Golf 2.0, including New Zealand golfer Ben Campbell.

Another Major Champion Quits LIV Golf

Louis Oosthuizen is the latest major champion to leave LIV Golf in the wake of the league's capitulation following Saudi Arabia's decision to end funding, having spent more than $5 billion.

The 2010 Open champion has been captain of the Southern Guards GC since June 2022, but he has decided to part ways with the breakaway circuit.

The South African golfer said the revamped LIV 2.0 would be 'tough to manage' when discussing his departure.

In a statement posted on his official X account on Wednesday, Oosthuizen said: "Five years ago, I made one of the best decisions of my life, moving away from the traditional golf world and into something very special with LIV Golf and Southern Guards GC.

"I'm the biggest supporter of team golf and always will be. Golf needs more of it."

He added: "I realised I have a lot more in me, and my biggest fear was that the schedule on LIV 2.0 would be tough to manage. I feel I have a few more years of good, competitive golf left in me, and the only way to be really sharp and competitive is through a schedule I control."

What's Next for Louis Oosthuizen?

After announcing his departure from LIV Golf, Oosthuizen revealed he is set to return to the DP World Tour in January.

His next competitive appearance will be at the 65th Link Hong Kong Open, which takes place from October 22–25 in Fanling.

Per his statement, the 44-year-old will then turn his attention to preparing for the 2027 season, with his return to the DP World Tour scheduled for January.

Speaking to the South China Morning Post, Oosthuizen explained: "I’ve had some success at majors, but you work and play to have a sniff of that again.

"I’m at a different stage of my golfing life [from when he won his major] but it’s pretty sweet when you still get called the Open champion.

"I hope to get my body and my game in a place next year [to compete for majors] … the Open is at a course I love and where I’ve won. The goal is to get my game as sharp as possible, to have myself ready, then see how it goes."