Jon Rahm officially walks away from LIV Golf and the estimated $100M still owed to him in deal

Jon Rahm is officially out of LIV Golf , and it's costing him.

The two-time major winner reached a separation agreement with the league in which he agreed to forfeit the remainder of the estimated $100 million owed to him.

Rahm will have his name, image, and likeness rights returned to him as part of the deal, ESPN reported, citing court records.

Rahm shocked the golf world nearly three years ago when, after publicly dismissing the league, he joined it on a deal that was rumored to be between $300 million and $600 million.

CLICK HERE FOR MORE OUTKICK SPORTS COVERAGE But at a bankruptcy hearing last week, Rahm's attorneys stated that he would not be part of what has been dubbed "LIV 2.0" and its "unacceptable" terms.

LIV filed for Chapter 11 bankruptcy in New Jersey last month.

Between 2021 and 2026, LIV spent an estimated $5 billion to $8 billion.

Bankruptcy filings show the league owes millions of dollars in unpaid compensation to top players, including Rahm, Bryson DeChambeau, Dustin Johnson and Cam Smith.

The PIF halted funding in April to redirect money toward domestic projects and manage financial pressures from the regional war with Iran.

Following the decision, PIF governor Yasir Al-Rumayyan resigned from LIV’s board.

Rahm won the league's individual title in each of the last three years, making his defection from the league arguably its biggest hit.

The rest of the golfers have until Oct.

25 to decide whether they will stay for LIV 2.0 or follow in Rahm's footsteps.

There is a chance the league will cease operations.