Jon Rahm left the PGA Tour at the peak of his career. He was the reigning Masters champion, but walked away from the sport’s biggest stage to take on LIV Golf as a challenge. Essentially betting he could help build a fledgling league from scratch. By most measures, he pulled it off. He is LIV’s most dominant player and its biggest earner. Yet golf writer Alan Shipnuck has reasons to believe he shouldn’t play in the league anymore.

Speaking on the Dan on Golf podcast, Shipnuck revealed some breaking news that explains Rahm’s frustration with the league.

“They owe him, you know, $150 million, and let’s call it the number they offered him was microscopic.”

Rahm had reportedly signed a $550 million multi-year deal with LIV. But after PIF’s withdrawal and legal and financial troubles, LIV couldn’t pay Rahm the $150 million it owed him, making him one of the league’s largest creditors. Per Shipnuck, PIF tried to buy the remainder of his contract, but what it offered him was nowhere near that number.

Notably, LIV CEO Scott O’Neil spent months courting a new investor to keep the circuit funded. The reports estimated the requisite amount to be $250 million and $300 million, just enough to stabilize operations. Naturally, a league hunting outside help would never cut Rahm a check for the full $150 million.

Moreover, Shipnuck has reason to believe the lowball number was a calculated move, given the “generational wealth” the league has paid him.

“They’ve put generational wealth in this guy’s pocket, but he has signed a contract that they’re trying to renege on.”

The contradiction plays out in plain sight. 54% of Rahm’s career earnings come from LIV, while the league is stiffing him on what it owes him.

According to Spotrac, Rahm has earned $106,811,375 in his tenure ($37,841,833 in 2023, $37,258,972 in 2024, and $37,710,750). His LIV earnings in just 3 years are almost 30 million more than his PGA Tour earnings in 12 years.

Rahm has earned millions from performance, but he has run out of options and challenges in the league, which isn’t good for him, per Shipnuck. He told Dan how flat Legion’s team championship win felt this Sunday. There was no celebration. Even Tyrrell Hatton bolted for his flight to the British Masters, and Rahm spent the next morning talking about getting a haircut. Hardly the reaction of a team that had won LIV’s biggest prize. It speaks to a deeper split in how players view the league. As Shipnuck put it himself, “Bryson sees himself as an entertainer and a content creator and a golfer. Rahm just wants to play golf.”

For the same reason, Rahm is constantly competing, which pulls him to the DP World Tour. Given his performance, his return to the PGA Tour could put him in the top 10 and help him win his way up to the Championship Series.

Furthermore, layered on top of money and boredom is a lifestyle case. Rahm and his wife are expecting their fourth child, and his family is based in Scottsdale. For context, it’s a quick hop from most PGA Tour and DP World Tour stops. LIV’s 2027 calendar, however, leans heavily international, with seven of its ten being overseas in places like Singapore, Australia, and South Africa. And shifting to international stops, with four young kids at home, makes that travel impractical.

Overall, between the underpaid buyout, the league fighting for cash, and little title defense left to win, Shipnuck’s read is blunt: he would be extremely surprised to see Rahm on LIV next year.