One-word answer could come back to bite Cameron Smith after Aussie star threw olive branch in PGA Tour's face

If LIV Golf collapses, Cameron Smith's career will without doubt be at a crossroads.

The Aussie had the golf world at his feet when he won the 2022 British Open at St Andrews, but instead opted for the massive instant payday LIV were offering to make the move.

When he could have been cementing himself as one of the all-time greats of the sport, Smith instead began a slide towards obscurity.

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On Thursday morning, reports emerged from the UK that the rebel tour was on the verge of collapse with the Saudi Arabian Public Investment Fund set to pull funding.

The reports came from some of the most reputable news sources in the world, including the Financial Times, The Guardian and the Telegraph (UK). LIV chief executive Scott O'Neil has since dismissed them as "rumours" and maintained the league is "100 per cent funded through the rest of the year".

But beyond that? O'Neil earlier this year declared LIV was funded until the end of 2032.

If LIV does fall over, Smith faces an uphill battle to return to the top of world golf, but it's a climb he's made before.

Ranked No.2 in the world when he joined LIV, Smith is currently ranked No.222. He was No.354 before his second-place finish at the Australian Open last December vaulted him up to No.201. LIV was granted ranking status for this year, but it's not much. He'll need top-five finishes for the rest of the season - assuming of course it goes ahead - to keep himself within cooee of the top-200.

His victory at the 2022 Open means he's eligible to play that until he's 60, but it only granted him a five-year exemption to the others. That expires at the end of 2027, meaning he has just seven more before he will be forced to qualify for majors.

Given he's missed the cut in each of the last six majors, that doesn't seem likely.

The offer he turned down

When Brooks Koepka announced he was quitting LIV to re-join the PGA Tour, Smith was offered the same olive branch of sorts to follow him.

In a memo to players, PGA Tour chief executive Brian Rolapp revealed details of the 'Returning Member Program'. In short, it applied only to players that had won majors or The Players Championship between 2022 and 2025. Smith, Bryson DeChambeau and Jon Rahm were the only LIV players eligible, other than Koepka.

Smith gave a one-word reply when asked by media if he would consider the offer: "no".

"I've made a decision to come here and I'm standing by it," Smith said.

Rolapp made it clear it was not a standing offer. It was one-time only, take it or leave it.

Koepka is already back playing on the PGA Tour, but took a hefty financial hit to do it. He agreed to pay $7.45m to charity, will not be eligible for PGA Tour equity grants for five years, will not receive FedEx Cup bonus money in 2026 and he cannot play signature events unless he earns his way in.

Patrick Reed shortly after became the second LIV star to return to the PGA Tour. He will be eligible to compete as a non-member from August - 12 months since he competed in his most recent LIV event. He is competing on the European Tour in the meantime.

Smith will also have to wait a minimum of 12 months after his last LIV tournament before he can return to the PGA Tour - that's if they let him.

Reed did not technically break any PGA Tour rules by competing in an 'unauthorised event', because he rescinded his PGA Tour membership before playing his first LIV event.

Koepka did not, but accepted the conditions of the Returning Member Program, and off he went.

Smith could still yet face further or harsher sanctions from the PGA Tour before being allowed to return, that's assuming of course he decides he wants to.

Harsh reality Smith could face

While it's possible the PGA Tour might want to cut a deal with the likes of Rahm, DeChambeau and Smith, if they don't the Aussie faces a hard slog to get back.

Reed is doing it, and although still an unpopular figure, has won significant respect of fans.

Former Ryder Cup captain Paul McGinley believes Smith et al must do the same.

"Everybody who went to LIV, went with a huge amount of risk attached," he told Sky Sports.

"They got paid a huge amount of money to take a massive risk, to leave behind the safety net, if you want to call it that, of the PGA Tour.

"The Tour is a members organisation, remember. Not only were they going to LIV and getting paid a lot of money, they were harming the model they left behind.

"At the time, they all justified it as a 'tough business decision' and they made that decision looking out for themselves. Now, the roles should be reversed.

"The Tour can play really hard ball back against them. They can say 'sorry guys, your spots have been filled', and play hard ball in return.

"The loyalty has to be to the guys who did not go to LIV, not the ones who did take that risk and obviously got paid a lot of money for doing so."

So Smith could be forced to go back to the beginning - low level professional tours, grinding for rankings points to get to the next level, and the next, and so on.

It would be a tough pill to swallow, but if he made smart financial decisions when he joined LIV, he'll be in a far more comfortable spot than when he first rose through the ranks.

And that he's been there and done that before will be another significant advantage.

Smith declared he had made his bed, and he fully intended to lie in it. But that bed looks as if it's been stolen, left with only a pile of dirty sheets and a doona.