Only a week ago, Gary Williams of Golf Channel claimed Jon Rahm is highly likely to play on the PGA Tour in 2027. He reiterated the same in another appearance on Golf Channel, which we’ll get to later. But a new report now claims Rahm is willing to pay five times what Brooks Koepka paid to rejoin the PGA Tour—a sign of how costly LIV’s financial collapse has become.

On Tuesday, August 18, Tee Times Publication, a popular social media account that generally shares updates from LIV Golf, noted that Jon Rahm is ready to exit the Saudi-funded league and join the PGA Tour. According to Tee Times, Rahm will play LIV Indianapolis as his final event before returning to the PGA Tour ahead of 2027. But the criteria for his return are steep.

What is the PGA Tour demanding of Jon Rahm?

According to Tee Times, the PGA Tour is mulling over a hefty fine. And when we say hefty, we mean $25 million. For comparison, Brooks Koepka paid $5 million upfront as a fine, which went to charity. Now that sum pales in comparison to what Jon Rahm reportedly gained, i.e., $300 million for joining the league. On top of that, the Spaniard has earned north of $20 million since joining LIV.

But there is a caveat. The two-time major winner, reportedly, didn’t get the full amount when he joined because he signed a backloaded contract. And the fine is far from the only thing the PGA Tour wants from Rahm.

Tee Times also noted that the Spaniard would have to undertake a Brooks Koepka-style apology tour including a public announcement confirming his separation from LIV Golf and his return to “traditional golf.” Then you have the Signature Event eligibilities (or the lack of them).

Rahm is unlikely to be eligible for those $20M-purse events unless he qualifies through his own performance. He would also be barred from receiving sponsor exemptions into these events. So the bigger question comes: Why would Jon Rahm do it?

Why would Jon Rahm break his LIV Golf contract?

Although Rahm’s move could harm LIV Golf’s reputation and legacy, it makes sense for him. Rahm is now among LIV’s largest unpaid creditors, owed millions in deferred compensation. Noted golf journalist Josh Carpenter also highlighted that LIV hasn’t been able to pay the pros after its last event.

“As of Monday night, some LIV golfers were still awaiting payment from the league’s most recent event at Trump Bedminster, which concluded Aug. 9. Players typically have been paid the Tuesday or Wednesday following a tournament.”

Consider this also: the purse for Indianapolis is now expected to fall short of $30 million. Amid all this, LIV confirmed scrapping its season finale in Michigan and pulled its planned post-round entertainment in Indianapolis, citing “unavoidable changes.”

Amid all this, analyst Gary Williams believes Jon Rahm is done with LIV Golf, and he can’t wait to exit.

Why equity won’t be enough to keep Jon Rahm in LIV: Williams

Reportedly, LIV Golf was planning to convert Jon Rahm’s unpaid dues into equity. But Gary Williams, noted broadcaster, believes that’s not what Rahm wants.

“I think Jon Rahm will be on the PGA Tour in 2027. I can see that. It’s not only based on some conversation,” said Williams a few days back on the Golf Channel. “Look, we all have our own intuition about what we think people want. Sometimes we are not necessarily right about that. In the case of Jon Rahm, I absolutely believe he wants to be back on the PGA Tour… Equity has nothing to do with what he is interested in.”

Speaking on August 18, the veteran analyst echoed similar thoughts: “I am absolutely certain that he [Rahm] wants to be on the PGA Tour. Can he swallow a more punitive financial penalty than Brooks did [is the open question].”

Rahm himself has been non-committal when asked about his future in LIV Golf. But the more telltale signs come from inside LIV Golf.

What has PGA Tour and LIV Golf said about Jon Rahm’s future?

LIV Golf has yet to comment on the matter officially. But a few weeks ago, James Corrigan of The Telegraph reported, citing insider sources, that the executives have come to terms with the fact that Rahm won’t stay beyond 2026.

“LIV sources have indicated that they are almost resigned to Rahm departing, with several insiders claiming that the DP World Tour has already been primed about his intentions,” the report read.

As far as the PGA Tour is concerned, they are treading carefully.

Golf Digest reported that the PGA Tour has not made any contact with the Spaniard or his agents. The reason is not that they don’t want him back. The reason is they don’t want to get into the middle of a fast-rising legal turmoil.

LIV Golf is preparing to file for bankruptcy protection, and that might just release Rahm from his contract without any direct maneuvering from the Tour itself. So Rahm’s future, as of now, remains uncertain.

The Golf Digest report also claims that Rahm might not get the olive branch that was offered to him, Bryson DeChambeau, and Cameron Smith last year, considering the LIV is on the back foot this time around. So considering all of that, Rahm has another route to the PGA Tour.

So where does Jon Rahm stand now?

Well, he is in murky waters. He has an unpaid contract, and he also has a Ryder Cup future to be mindful of. Amid all this, DP World Tour looks like the best option for him.

He won’t have to accede to the PGA Tour’s demands if he comes through the pathway Patrick Reed is utilizing. Reed is playing on the DP World Tour to accumulate enough points and earn a PGA Tour card through the Race to Dubai Rankings. For Rahm, that seems the path with least friction.

He is still a big name who commands respect and drives attendance. So the PGA Tour will be better with him than without him. However, a direct entry to the Tour might just cost him a huge amount of money and cause significant damage to his ego.

Meanwhile, LIV Golf CEO Scott Neil had pointed to a new unnamed investor as the league’s path forward, framing the shortened season as a chance to “put full resources behind what comes next.” But with players chasing paychecks and marquee names like Rahm reportedly ready to walk, that promise is unlikely to be fulfilled.