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.

Nigeria Nigeria Latest News, Nigeria Nigeria Headlines

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

Mixed martial arts investment latest example of Saudi Arabia's foray into global sportsSaudi Arabia has purchased a stake in the Professional Fighters League in yet another example of the oil-rich kingdom using athletics to further increase its influence.
Source: AP - 🏆 728. / 51 Read more »

Saudi Information Technology Company “SITE” is Host Partner of IDC CIO Summit Saudi Arabia 2023Saudi Information Technology Company “SITE” is Host Partner of IDC CIO Summit Saudi Arabia 2023
Source: Utoday_en - 🏆 295. / 63 Read more »