MELBOURNE, Nov 6 (Reuters) - Having defected to LIV Golf for eye-watering sums of money, players from the doomed circuit may be about to discover their true market value as they seek a return to the established tours they spurned.
LIV's collapse has left dozens of golfers facing uncertain futures, though the biggest names will likely find a warmer welcome than the journeymen and fading stars who also cashed in on the Saudi-backed league's riches.
Former major champions Jon Rahm, Brooks Koepka and Patrick Reed have already turned their backs on LIV, while Australian Lucas Herbert and England's Tyrrell Hatton have also signalled their departures.
Others, including Australia's former British Open champion Cameron Smith, Dustin Johnson and Bryson DeChambeau, have yet to publicly settle their futures.
Some are owed millions of dollars under their playing contracts and mayhave little prospect of recovering much, if any.
LIV's bankruptcy filing listed 14 current and former players among its 30 largest unsecured creditors, with claims totalling about $45.5 million.
The list included outstanding obligations of about $5.7 million to DeChambeau and $4.8 million to Smith, a fraction of their earnings from the league and their sign-on bonuses.
Some will hope to resume earning onUSPGA Tour and European DP World Tour as soon as they can but returning to the circuits they turned their backs on will not be a formality.
Neither tour is obliged to restore their former privileges.
ThePGA Tour's existing rules provide for suspensions linked to players' last LIV appearances.
SCAR TISSUE
Five-times major winner Koepka was granted re-entry to the US Tour through its "returning member program" as a major winner but that door is now closed to others.
Tour boss BrianRolapp made it clear in June that the LIV defections had been taken personally.
"There’s scar tissue, and that has to be accounted for," he said.
The DP World Tour has been more accommodating, indicating it is prepared to consider membership applications and tournament invitations from returning LIV players, although outstanding fines and disciplinary matters could complicate their reinstatement.
Europe may ultimately prove an attractive interim destination for golfers shut out, at least temporarily, from thePGA Tour.
The PGA Tour and DP World Tour did not provide immediate comment when contacted by Reuters on Friday.
The big-name players are likely to have more clout than some ofLIV's lesser lights when negotiating their returns, opening the prospect of a two-tier market.
"The likes of Jon Rahm have value. Some, like Cam Smith, may have less after seeing their form drop while on the LIV tour," said Colin Smith, principal of Melbourne-based sports media advisory firm Global Media & Sports.
LIV golfers whose best years are behind them may have to earn their way back via qualifying tournaments or return to developmental circuits.
Some players who remained loyal to the US and DP World Tours are positive about the return of LIV rivals, saying it will be good for golf after years of controversy and disruption.
Others are more measured and argue against rolling out the red carpet for the defectors.
Australian former world number one Adam Scott said LIV players should have to earn their way back on merit.
"They left and gave up those privileges," Scott said at the DP World Tour's season-ending Abu Dhabi Championship.
"I think they should re-qualify themselves, ideally ... I think that seems logical and sensible."
(Reporting by Ian Ransom; Editing by Christopher Cushing)
