Senate subpoenas Saudi Public Investment Fund's U.S. subsidiary for info on PGA-LIV Golf deal

Blumenthal said the government's current laws on reviewing foreign investments overlook commercial holdings by foreign governments.

"As I wrote to the governor of the PIF last month, it cannot have it both ways," Blumenthal said."If it wants to engage with the United States commercially, it must be subject to United States law and oversight."a deal to bring the two golf leagues together that shocked the sports media world.

While the PGA Tour has said it would be in the driver's seat if the deal came to fruition, PIF has said it's prepared to invest billions of new capital into the new entity. Prior to the proposed deal the two organizations had filed a series of antitrust claims against each other. LIV had sued the Tour alleging anti-competitive practices for banning its players, while the Tour countersued claiming LIV was stifling competition.

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