Saudi chief 'pulled plug' on LIV Golf after Sergio Garcia 'embarrassment' at Masters

Sian Jones Fri, August 21, 2026 at 4:31 PM UTC

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An outburst by Sergio Garcia at the Masters allegedly contributed to PIF governor Yasir Al-Rumayyan's decision to withdraw funding from LIV Golf -Credit:Cameron Smith/R&A/R&A via Getty Images

Saudi Arabia’s Public Investment Fund reportedly pulled the plug on LIV Golf following an alleged “embarrassment” involving Sergio Garcia at the Masters.

The future of LIV Golf remains uncertain as the 2026 season draws to a close, with Saudi Arabia’s Public Investment Fund (PIF) set to end its financial backing of the breakaway tour. PIF has reportedly cited billions of dollars in losses since LIV Golf launched in 2022, bringing an end to its financial support after this week’s season finale at Chatham Hills near Indianapolis.

Garcia was one of the tour’s biggest signings when LIV recruited a host of established PGA Tour stars four years ago, but the Spaniard’s time with the Saudi-backed league is now unfolding against an uncertain future. It comes after Rory McIlroy slammed Scottie Scheffler for his comments on LIV Golf stars returning to the PGA Tour.

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In April, LIV golfers endured a difficult Masters, with Garcia drawing unwanted attention during the final round after damaging the Augusta National course in a fit of frustration.

According to a report by FT, the incident allegedly embarrassed PIF governor Yasir Al-Rumayyan and contributed to his decision to withdraw the fund’s financial backing of LIV Golf as it shifts its focus toward major domestic investments in Saudi Arabia. Mirror Sport US approached LIV, who didn’t immediately return comment

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LIV is under growing pressure to secure a much-needed cash injection and avoid a potential collapse. The tour has reached an agreement in principle with British private equity firm BC Partners, with the deal expected to be finalized in the coming weeks. The firm’s head of credit, Ted Goldthorpe, met with LIV players at Chatham Hills on Tuesday.

The meeting appeared to leave players with more questions than answers, while Garcia offered no clear indication of whether he plans to remain with LIV Golf. "We'll see," he told ESPN. "There's a lot of things being talked about, and we're working through it."

Saudi Arabia’s Public Investment Fund (PIF) is set to end its financial backing of LIV Golf -Credit:Nathan Howard, Getty Images

LIV Golf CEO Scott O’Neil remains confident the breakaway circuit has a future and believes its players should be at the center of it. Despite Jon Rahm and Bryson DeChambeau being linked with returns to the PGA Tour, and some players reportedly owed as much as $100,000, O’Neil sees the stars as key to the tour’s long-term survival.

He wants LIV’s players to eventually own the teams and commercial rights, giving them a direct stake in shaping the league’s future. “That's what brings us to the next chapter of LIV Golf,” O’Neil began. “I think about our evolution pretty simply. This next chapter is fundamentally different.

“We are building towards a league majority owned by its players, and I want you to think about just for a minute what that means. Players aren't simply playing for LIV Golf. They have an opportunity to own it. They get equity in what they're building. They regain a majority of their commercial rights, and teams become real businesses with real assets, and for the first time, the interests of the league and the players become truly aligned around building long-term value together.

“We're also going to lean a lot harder into what we've learned works. Our biggest events tell us that, and you don't have to look too far past Adelaide to see it because what happens in Australia with Ripper GC is like something that's really special. 115,000 fans this year, the most in the history of the country for a golf event.

“You go to South Africa with the Southern Guards and over 100,000 people show. They were singing the National Anthem on the 18th fairway. It's just special and different and younger and diverse. I mean, shoot, almost 40 percent of our audiences are women. At a golf event. We have over half our audience is younger than I am. Like, this is young, diverse, and global.”

Meanwhile, Rory McIlroy accused Phil Mickelson of 'blowing up' golf with his latest LIV move.

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Source: “AOL Money”