A report from the Financial Times suggests that golfer Sergio Garcia's volatile behavior during the final round of the Masters may have contributed significantly to the Saudi Arabia Public Investment Fund (PIF) halting its financial backing of the LIV Golf league. The PIF's governor, Yasir Al-Rumayyan, was reportedly embarrassed by the incident, leading to the decision to withdraw funding.
During the Masters, Garcia engaged in a display of frustration, twice slamming his driver into the turf after a shot landed in a bunker, which damaged the tee grounds. He then proceeded to strike a cooler with his driver, snapping the head off. As a result, Garcia had to complete the round without his driver. He finished the tournament in 52nd place among the players who made the cut.
LIV Golf is currently attempting to restructure its operations. The league has reportedly lost $1.4 billion across its first three years of operation from 2022 to 2024. The league is attempting to leverage its substantial debt figures to attract new investors. This financial uncertainty comes as LIV Golf prepares for its season finale event in Indianapolis, following the cancellation of the Michigan Team Championship, as the league navigates its future heading into 2027.
The PGA Tour had previously announced an agreement with Strategic Sports Group (SSG Investment) in January 2024 to raise capital, a move seen as a defensive measure against LIV Golf's growing influence. However, insiders within the PGA Tour reportedly believe the tour may regret this decision, particularly now that LIV Golf's financial backing has diminished. The PGA Tour is now concerned about potentially ceding too much control to Wall Street financiers.