Rahm, one of LIV's highest-profile signings and whose arrival was announced in December 2023 when he was the reigning Masters champion, said there were simply too many unknowns surrounding LIV 2.0.
"I can only reflect on those three years as a positive. It was a wonderful experience. Played a lot of good golf.
"Obviously, individually and as a team, we did great," Rahm, in his first public comments since his decision to leave LIV last month, told reporters ahead of this week's Abu Dhabi Championship.
"As much as I liked the project and the idea on, let's say, LIV 1.0, I wasn't thrilled with the changes they were doing to 2.0 and I just wasn't willing to follow that path, right."
LIV Golf is currently trying to emerge from Chapter 11 bankruptcy protection with a restructured ownership model and a proposed new investment arrangement with BC Partners Credit. Rahm is among a wave of high-profile golfers who have left LIV Golf since it filed for bankruptcy protection in September.
It was during a bankruptcy hearing last month that an attorney for Rahm told the court the two-time major champion independently reviewed the proposed terms of LIV 2.0, determined they were unacceptable and decided he would not be participating going forward.
Rahm, who won the season-long individual title each year he competed on LIV, said he plans to play on the Europe-based DP World Tour in 2027. He has yet to speak with the PGA Tour to see if there is a path back for him next year but is willing to accept penalties to do so.
The Spaniard was one of four players who were eligible for the PGA Tour's returning member program in January, a limited-time offer that was offered to golfers who had won a major or The Players Championship since 2022 and came with stiff financial penalties.
Brooks Koepka took advantage of the offer, and it came at a cost, with the former world number one facing a five-year forfeiture of potential equity in the PGA Tour's Player Equity Program, representing an estimated $50 million to $85 million loss depending on his performance and tour growth.
"I don't know what is in store for us. We know what they did with Brooks. This is different circumstances," said Rahm. "I don't know what things are going to look like. But it's a pretty good safety net to have that I can play the DP World Tour next year, and if it comes to that, I'm really excited to play for a full year."
When asked if he would accept the same terms that Koepka agreed to, Rahm was clear.
"Most likely, yeah. Why not? Yeah, but it's a big if. I seriously doubt I get offered the same deal that Brooks did," said Rahm. "But yeah, if I got offered exactly the same penalties as him, I probably would do it, yes."