The leader of a Senate subcommittee is demanding the PGA Tour and Saudi Arabia's LIV Golf present records about negotiations that led to their new agreement and plans for what golf will look like under the arrangement.
Last week, LIV and the tour stunned the golf world by agreeing to merge the PGA Tour and European tour with the Saudi golf interests, while also dropping all lawsuits between the parties. The governor of Saudi Arabia's sovereign wealth fund, which bankrolls LIV, will join the PGA Tour board of directors and lead a new business venture as its chairman. The PGA Tour itself will remain a tax-exempt entity.Sign up for NBC Bay Area’s Housing Deconstructed newsletter.
Among the uncertainties is how LIV Golf goes forward after 2023. PIF's governor, Yasir Al-Rumayyan, is to be chairman of the new venture, with Monahan as CEO and two PGA Tour board members joining them on an executive committee.
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Источник: FoxNews - 🏆 9. / 87 Прочитайте больше »
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.
Источник: CNBC - 🏆 12. / 72 Прочитайте больше »
Senator asks LIV Golf, PGA Tour leaders for records on mergerThe leader of a Senate subcommittee wants the PGA Tour and Saudi Arabia’s LIV Golf to present records about negotiations that led to their new agreement and plans for what golf will look like under the arrangement. Sen. Richard Blumenthal sent letters to PGA Tour Commissioner Jay Monahan and LIV CEO Greg Norman spelling out the “serious questions regarding the reasons for and terms behind the announced agreement.” Blumenthal, who is chairman of the Senate Permanent Subcommittee on Investigations, said he also wanted to hear the tour’s plans to retain its tax-exempt status. Last week, LIV and the tour stunned the golf world by agreeing to merge the PGA Tour and European tour with the Saudi golf interests, while dropping all lawsuits between the parties.
Источник: AP - 🏆 728. / 51 Прочитайте больше »
Senate launches probe into merger of Saudi-backed LIV Golf, PGA TourSen. 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.
Источник: FoxNews - 🏆 9. / 87 Прочитайте больше »