The DP World Tour did not grant release waivers for the players to take part in the LIV event at Centurion Club in St Albans.

On top of the fine, the players are also banned from three upcoming tournaments co-sanctioned by the DP World Tour and the United States-based PGA Tour.

These are the Scottish Open, near Edinburgh, Barbasol Championship in Kentucky and Barracuda Championship in California.

The Scottish Open is a key warm-up event for the Open, golf's oldest major and the only men’s major played outside of the US.

The Barbasol Championship is an alternate event being played on the same dates, while the Barracuda Championship clashes with the 150th Open itself, which LIV players have already been cleared to play in.

"Every action anyone takes in life comes with a consequence and it is no different in professional sport, especially if a person chooses to break the rules," DP World Tour chief executive Keith Pelley said.

"That is what has occurred here with several of our members.

"Many members I have spoken to in recent weeks expressed the viewpoint that those who have chosen this route have not only disrespected them and our Tour, but also the meritocratic ecosystem of professional golf that has been the bedrock of our game for the past half a century and which will also be the foundation upon which we build the next 50 years.

"Their actions are not fair to the majority of our membership and undermine the Tour, which is why we are taking the action we have announced today."

Formerly known as the European Tour, the DP World Tour has what it terms a "strategic alliance" with the PGA Tour.

The PGA Tour has taken a far more hardline approach, suspending all players who took part in the LIV event indefinitely.

Before this, the DP World Tour had not taken any action, with some LIV rebels playing in this week’s BMW International Open in Munich.

LIV Golf events do not currently offer Official World Golf Ranking (OWGR) points.

The OWGR is used to determine qualification for the Olympics, as well as major championships, although certain exemptions exist for the latter.

The DP World Tour had appeared to offer LIV players no longer able to play on the PGA Tour an avenue to collect OWGR points, so whether this stance is a one-off for co-sanctioned tournaments or a sign of things to come will be monitored closely.

The International Golf Federation told insidethegames it had "no plans" to change the Olympic qualification system, while the OWGR said it would not comment on any applications it may or may not have received for ranking eligibility.

LIV Golf Investments is owned in the majority by Saudi Arabia's Public Investment Fund and critics say the country is using it for sportswashing.

Homosexuality is illegal in Saudi Arabia, women's rights are severely restricted, as is free speech, and the country is leading a coalition which has carried out deadly airstrikes across Yemen since 2015.

These issues - plus Saudi Arabia's links to the 9/11 terror attacks - have been at the forefront of criticism over certain golfers' willingness to sign up to the series, which is made up of 54-hole competitions and sees players compete in teams.

South African Charl Schwartzel and his Stinger GC team won the first LIV event, earning him $4.75 million (£3.85 million/€4.5 million).