Senate Launches ANOTHER Probe Into PGA Tour-LIV Golf Merger

  • 📰 thedailybeast
  • ⏱ Reading Time:
  • 25 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 13%
  • Publisher: 63%

Business News News

Business Business Latest News,Business Business Headlines

Finance Committee Chairman Sen. Ron Wyden says the merger “raises significant questions about whether organizations that tie themselves to an authoritarian regime” should enjoy U.S. tax exempt status.

to PGA top leadership, Finance Committee Chairman Sen. Ron Wyden is expressing “serious concern” over the relationship between America’s premier golf league and the Saudi Public Investment Fund—the big bucks behind the fledgling foreign circuit. He said it “raises significant questions about whether organizations that tie themselves to an authoritarian regime that has continually undermined the rule of law should continue to enjoy tax-exempt status in the United States.

” Wyden points out the PGA’s sudden pivot in position when it previously denounced Saudi Arabia’s “gross violations of human rights” and attempts to “invest in sports as a way of cleansing its reputation.” “I have serious questions about any compensation arrangements… intended to personally and financially benefit the already lavishly-compensated officers and employees of PGA Tour,” Wyden wrote. His letter demands the PGA answer 21 multi-part questions on the merger by June 23.

 

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:

 /  🏆 307. 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 Democrats press for Justice Department inquiry into PGA Tour-LIV Golf mergerDemocratic Sens. Elizabeth Warren and Ron Wyden urged the Justice Department to examine potential antitrust abuses from the PGA Tour-LIV Golf deal.
Source: CNBC - 🏆 12. / 72 Read more »

Ron Hart: Never forget the free market lessons of economist Adam SmithSmith first wrote of economics as enlightened self-interest benefiting the masses.
Source: ladailynews - 🏆 332. / 59 Read more »