Senate launches probe into merger of Saudi-backed LIV Golf, PGA Tour

  • 📰 FoxNews
  • ⏱ Reading Time:
  • 39 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 19%
  • Publisher: 87%

Business Business Headlines News

Business Business Latest News,Business Business Headlines

Sen. Richard Blumenthal is demanding records regarding LIV and PGA's partnership, which some say is an attempt to distract from Saudi Arabia's human rights record.

PGA golfer Dylan Wu joined 'America's Newsroom' to discuss why many golfers are still shocked by the merger and why he believes many players are 'shut out from what's happening.'between LIV Golf and the PGA Tour.

PGA officials announced last week that their organization would create a"newly-formed commercial entity to unify golf" along with the Public Investment Fund , which owns LIV. The PIF is the sovereign wealth fund of Saudi Arabia, controlled by Crown Prince Mohammed bin Salman. LIV has been under intense scrutiny since its inception as critics dismiss it as a high-dollar front for Saudi Arabia to"sportswash" its reputation for"While few details about the agreement are known, PIF’s role as an arm of the Saudi government and PGA Tour’s sudden and drastic reversal of position concerning LIV Golf raise serious questions regarding the reasons for and terms behind the announced agreement," Blumenthal wrote in the letter.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 9. in BUSİNESS

Business Business Latest News, Business Business Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Senate Probes Saudi-Backed LIV-PGA Merger—Questioning Its Non-Profit StatusThe PGA Tour’s long-held tax exemption is under federal scrutiny amid the American institutions’s influx of Saudi cash.
Source: Forbes - 🏆 394. / 53 Read more »

Senator opens investigation into PGA Tour merger with Saudi-backed LIV GolfThe sudden merger between PGA Tour and Saudi-owned Liv Golf has invited scrutiny from federal lawmakers.
Source: CNBC - 🏆 12. / 72 Read more »

US Senate opens investigation into PGA Tour-LIV Golf dealThe PGA Tour and LIV Golf may have already finalized the terms of their planned merger, but it won't take place without a closer look from Capitol Hill.
Source: YahooNews - 🏆 380. / 59 Read more »

PGA Tour, LIV Golf agree to mergeIn a stunning twist to the saga that has consumed golf for the last year, the PGA Tour, the DP World Tour and LIV Golf, the upstart breakaway tour funded by Saudi Arabia's Public Investment Fund, have agreed to merge.
Source: WOKVNews - 🏆 247. / 63 Read more »

'Sportswash': Congress Introduces Bill Aimed at PGA Tour-LIV MergerThe PGA tour and LIV Golf appear poised to plow ahead with their shocking and unpredictable merger. However, some in the federal government and saying not so fast.
Source: BreitbartNews - 🏆 610. / 51 Read more »