Factz

BREAKING

US Senate Launches Inquiry into Proposed Merger Between PGA Tour and LIV Golf

The planned merger between the PGA Tour and LIV Golf is facing scrutiny from the US Senate, as it raises concerns about the involvement of the Saudi government and the potential risks associated with a foreign entity taking control of an esteemed American institution.

Senator Richard Blumenthal, chairman of the Senate Permanent Subcommittee on Investigations, expressed his apprehension on Monday and requested records and emails from both the PGA Tour and LIV Golf. He seeks to understand the process through which the deal was reached and how the newly formed entity will be structured and operated.

While the parties involved have been careful not to label it as a merger, emphasizing that the PGA Tour will retain its non-profit status, they acknowledge the existence of a joint commercial entity as a secondary asset.

However, last year, LIV Golf and several golfers filed a lawsuit against the PGA Tour, alleging antitrust violations and describing it as a monopoly in their 118-page complaint. The US Department of Justice also investigated potential anticompetitive practices by the PGA Tour when it attempted to penalize players for joining LIV.