The DOJ investigation, on the basis of antitrust concerns, is being reported more than a week after the competing golf leagues announced plans to merge.The PGA Tour is under investigation by the Justice Department for allegations of anti-competitive practices related to suspending golfers who defected to LIV Golf, but the new merger is now reportedly under similar scrutiny.
The agreement announced last week between the PGA Tour, DP World Tour, and Saudi Arabia's Public Investment Fund will create a new unnamed for-profit entity that will combine the commercial businesses of the three. The agreement also maintains PGA Tour Inc., a tax-exempt organization, will remain in place and will retain"administrative oversight of events for those assets contributed by the PGA TOUR, including the sanctioning of events.
"We are pleased to move forward, in step with LIV and PIF’s world-class investing experience, and I applaud PIF Governor Yasir Al-Rumayyan for his vision and collaborative and forward-thinking approach that is not just a solution to the rift in our game, but also a commitment to taking it to new heights. This will engender a new era in global golf, for the better,” Monahan said.
Belgique Dernières Nouvelles, Belgique Actualités
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