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Former world No. 1 Jon Rahm's lawyer tells court Spaniard is done with LIV Golf after three seasons

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Core Development: Former world No. 1 Jon Rahm's lawyer tells court Spaniard is done with LIV Golf after three seasons
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Market & Financial Impact: Jon Rahm quits LIV Golf after rejecting its restructuring plan, dealing another blow to the bankrupt breakaway circuit.
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Actionable Insight: Monitor price volume action at market open; check key technical support/resistance levels.

Former world number one Jon Rahm is quitting LIV Golf, robbing the breakaway circuit of one of its biggest stars while it fights to emerge from Chapter 11 bankruptcy.

Rahm's attorney John Beck told a bankruptcy hearing on Wednesday that the two-times major champion made his decision after looking over details of LIV Golf's planned next phase.

"Mr. Rahm has independently reviewed the proposed terms of LIV 2.0, as the parties have been referring to it, and has determined that those terms are unacceptable as to him, and he will not be participating going forward in LIV 2.0," Beck told the court.

Other golfers asked a US bankruptcy judge to help terminate their contracts and clarify their ability to negotiate with other tournament organizers and sponsors as their LIV contracts go unpaid.

LIV has already agreed to terminate Sergio Garcia's contract after determining that the league would not honor its terms, and attorneys for Bryson DeChambeau, Cameron Smith, An Byeong-hun, Marc Leishman, Cameron Tringale and Matthew Wolff asked the judge to allow those players out of their old contracts.

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Official Publisher Attribution: This report is aggregated from CNBC. ZeroLive provides live aggregation, automated sentiment synthesis, and exchange disclosure monitoring for retail market participants.
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