The leader of a Senate subcommittee is demanding the PGA Tour and Saudi Arabia's LIV Golf present records about negotiations that led to their new agreement and plans for what golf will look like under the arrangement.
U.S. Sen. Richard Blumenthal, D-Conn., sent letters Monday to PGA Tour Commissioner Jay Monahan and LIV CEO Greg Norman spelling out the “serious questions regarding the reasons for and terms behind the announced agreement.”
Last week, LIV and the tour stunned the golf world by agreeing to merge the PGA Tour and European tour with the Saudi golf interests, while also dropping all lawsuits between the parties. The governor of Saudi Arabia's sovereign wealth fund, which bankrolls LIV, will join the PGA Tour board of directors and lead a new business venture as its chairman. The PGA Tour itself will remain a tax-exempt entity.
The agreement announced last week was to combine the golf-related businesses of Saudi's Public Investment Fund — which includes LIV Golf — with those of the PGA Tour and European tour. That would be a new for-profit company still to be named. In his letters to Monahan and Norman, Blumenthal wrote about the skepticism critics hold over the Saudis' intent “to use investments in sports to further the Saudi government's strategic objectives.”
Philippines Latest News, Philippines Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
U.S. Senator opens probe into planned PGA Tour, LIV Golf mergerU.S. Senator Richard Blumenthal demanded details on how the PGA Tour came to its agreement with LIV Golf and how any newly formed entity will be structured and operated
Read more »
U.S. senator asks LIV Golf, PGA Tour leaders for records on massive mergerThe leader of a U.S. Senate subcommittee is demanding the PGA Tour and Saudi Arabia\u0027s LIV Golf present records about negotiations.
Read more »
Senator asks LIV Golf, PGA Tour leaders for records on mergerThe leader of a Senate subcommittee is demanding the PGA Tour and Saudi Arabia's LIV Golf present records about negotiations that led to their new agreement and plans for what golf will look like under the arrangement.
Read more »
Hadwin says Taylor's win 'might be one of the greatest moments in Canadian golf history'Canadians Corey Conners, Adam Hadwin, and Mike Weir were all watching closely as fellow Canadian Nick Taylor ended the 69 year drought for Canadians at the Canadian Open. They spoke about what it was like to watch Taylor win.
Read more »
Saudi Arabia's notorious crown prince extends his influence into the world of golfMohammed bin Salman realized 'sportswashing' was a great way to improve Saudi Arabia’s image and his own. If Saudi got into the entertainment business, it might take some of the spotlight off the beheading business.
Read more »