Every rescue plan needs believers, and LIV Golf is running short of them. BC Partners wants players to own most of the new league, yet the players keep finding ways out. Now, even the golfer given a seat at the creditors’ table, Michael La Sasso, has walked away, with Jon Rahm’s exit nearing settlement.

Financial Times reporter Sujeet Indap, who has tracked the bankruptcy from the start, broke the news on X. He reported that “NEW AT LIV, Michael La Sasso resigns from the unsecured creditors committee and is working with Bryson’s lawyers at Weil (Weil Group has accumulated several players).”

In the same thread, Indap also revealed, “Jon Rahm settlement to be filed to the docket by tomorrow, which includes his IP/NIL reverting back to him.”

While both updates look different on the surface, they have the same painful pulse: players are calling it quits one after another. LIV 1.0’s marquee player, Jon Rahm, has already made it clear that he finds the new league’s proposal unacceptable; the younger generation expected to make do has also made its intentions clear. Let’s first look at La Sasso’s resignation.

Firstly, Michael La Sasso is 22 years old. He turned pro in January as the reigning NCAA champion and signed with the league, leaving a credible opportunity with the PGA Tour behind to join Phil Mickelson’s HyFlyers GC. He then won LIV’s season finale in Indianapolis, earning him recognition as the league’s most promising young talent.

From there, he was seated on the committee of unsecured creditors. For context, in a Chapter 11 case, a committee of unsecured creditors speaks for those who are owed money without collateral. It can investigate the company and help shape the reorganization plan.

LIV’s seven-member committee was appointed on September 30, with its first meeting set for October 15. Notably, La Sasso was the only golf member of that committee. The others were mostly trade vendors still waiting to be paid for services they provide to LIV and its events. Naturally, putting a first-year pro among them was a choice that raised questions.

But now, he has firmly resigned from that seat. The reason for his resignation has not been addressed publicly. But what is clear is that he has moved to a side that wants to negotiate with LIV, rather than settle within its process.

That side is built around Bryson DeChambeau, and it includes Weil, Gotshal & Manges, one of the biggest names in U.S. corporate restructuring. This group primarily aims to represent Bryson DeChambeau and his company and sit across from BC Partners, LIV, and PIF to negotiate player demands directly before the court.

The timing of this move is clear, as Bryson DeChambeau looks for a way out of LIV 2.0, although he has not publicly made his intentions clear. But Michael La Sasso joining this group says enough. Meanwhile, Reed Smith represents five other players and may try to form a committee of its own for similar confrontational negotiations with the investors.

Jon Rahm’s Clear Exit

While the tumultuous situation continues on the committee front, Jon Rahm is settling his exit with the league. As reported, Rahm’s exit became public on October 7, when his lawyer, John Beck, told a New Jersey bankruptcy court that Rahm had reviewed LIV 2.0’s terms and found them “unacceptable.”

The Spaniard had signed the contract ahead of the 2024 season and reportedly still owed more than $100 million. But the judge approved LIV’s motion to reject all other players’ contracts and held Rahm’s back. Beck said both sides hoped to file a separation agreement by October 15, with the first hearing set for November 5. If no deal was reached, Rahm planned to keep fighting in court.

But the new report suggests that the deal is now close. Rahm is getting his IP and NIL rights back and would proceed to leave for the next chapter. He remains eligible for the DP World Tour and the Ryder Cup, but the PGA Tour has said it does not plan to bring back its returning member program.

It’s well established that Rahm’s participation in the league was one of its bigger assets. With him now officially closing his contract, LIV 2.0 looks shakier.

And Rahm is not alone. Sergio Garcia had his LIV contract terminated on October 6, with David Puig also publicly ruling out the new league, saying, “I don’t see myself playing in LIV 2.0.”

The list has only grown since then. Court Digest reports that Cameron Smith, Matthew Wolff, Marc Leishman, and others have also asked to be released.

Naturally, this leaves a sour note for the new beginning, as BC Partners has made it clear that the league must sign a requisite number of players by October 25, since the new league is to be equity-based and player-owned. Moreover, PIF has said it will move the case towards a wind-down if the plan has not come together by the end of the month.

That being said, the pressure on players right now matches the pressure they put on LIV. The DP World Tour CEO told BBC Sport clearly that players need to make a choice. He further asserted that the Tour will not allow LIV 2.0 players to hold membership and that only members can play in the Ryder Cup. The Tour’s 2027 commitment deadline is November 16.

But for now, Michael La Sasso and Bryson DeChambeau have made their intentions clear. Whether they can reach a settlement remains to be seen.