Rahm resolves his dispute with European tour as LIV faces loss of Saudi funding

STERLING, Va. (AP) — Jon Rahm has resolved his financial dispute with the European tour, a move that potentially gives him a place to compete in 2027 and beyond with LIV Golf facing an uncertain future. Rahm and Tyrrell Hatton took questions Tuesday at LIV Golf Virginia after LIV CEO Scott O'Neil spoke to reporters about his efforts to court investors for a league that is losing its chief financial backer, Saudi Arabia's sovereign wealth fund, at the end of the season. Both players declined to speculate on their future and noted that they remain under contract with LIV for years to come. "As of right now I have several years on my contract left, and I'm pretty sure they did a pretty good job when they drafted that, so I don't see many ways out," Rahm said. Asked whether Saudi Arabia's Public Investment Fund had committed to honoring contracts beyond 2026, O'Neil said, "I don't even know how to think about answering." The Saudis have spent $5 billion on LIV Golf over five years without achieving profitability, including $1 billion on player contracts. Players compete for $30 million purses at each event on the LIV schedule, an amount that could be reduced next year without Saudi funding. The PGA Tour does not allow players to compete on both circuits. However, LIV players have been welcomed back to the European tour after paying fines for playing in conflicting events. Rahm refused to pay the fines and the resulting standoff put at risk his participation in next year's Ryder Cup at Adare Manor in Ireland. "There is no longer a standoff. We were able to reach an agreement. There were some concessions on both sides, and I offered some, they extended an olive branch," Rahm said. "So that will not be a stress anymore." Rahm said he plans to play European tour events this fall, including the Spanish Open, unless family considerations get in the way. He and wife Kelley are expecting their fourth child. The two-time major champion has played only six European tour events since joining LIV in late 2023. LIV has no events on its schedule between the U.S. Open and the British Open, and Rahm's settlement would allow him to play the Scottish Open, which is co-sanctioned by the PGA Tour, the week before the year's final major. Speaking in Spanish at the end of his availability, Rahm said he knew there was risk in coming to LIV and compared his situation to a soccer team knowing its coach was leaving at the end of the season. "You know you have to play, but there is ambiguity because maybe you are not going to follow the same system," Rahm said before making a reference to PIF governor Yasir Al-Rumayyan, known as "His Excellency," who has stepped down as LIV's chairman. "It was a surprise for everyone. We didn't expect it, after the support that His Excellency has given us." O'Neil makes a pitch for LIV's value O'Neil took questions from a LIV media official for 28 minutes inside the tennis building at Trump National Golf Club outside Washington before answering reporters' questions for 17 minutes. Behind him was a screen with the names of six sponsors, four of which are owned or backed by the PIF: Maaden, Riyadh Air, Roshn Group and Aramco. O'Neil mentioned sponsorships, ticket sales, television contracts and the league's global footprint as reasons for optimism that it could secure funding. The league plans to take its 13 franchises to market, and O'Neil said those teams would be offered to potential buyers with players in place. "The way the process will typically work — I may be getting ahead of myself — is that we're going to create a business plan, we're going to lock arms with the players, we will go to market and raise money on a top level, and then we will get investors in teams in that order," O'Neil said. "The players on the team should be locked in." Rahm acknowledged that players might have to accept less money to keep the league going. "I do believe that for the business plan to change, whatever they're coming up with, there will need to be some concessions on (players') part, yeah," he said. ___ This story has been corrected to fix the spelling of Tyrrell Hatton's first name. ___ AP golf: https://apnews.com/hub/golf