Senate Probes Saudi-Backed LIV-PGA Merger—Questioning Its Non-Profit Status

المملكة العربية السعودية أخبار أخبار

Senate Probes Saudi-Backed LIV-PGA Merger—Questioning Its Non-Profit Status
المملكة العربية السعودية أحدث الأخبار,المملكة العربية السعودية عناوين

The PGA Tour’s long-held tax exemption is under federal scrutiny amid the American institutions’s influx of Saudi cash.

on the “risks posed by a foreign government entity assuming control over a cherished American institution."Los Angeles Times via Getty ImagesIn letters sent separately to PGA Tour commissioner Jay Monahan and LIV commissioner Greg Norman, the panel’s chairman, Sen. Richard Blumenthal , asked for documents and communications pertaining to the recent surprise merger between the PGA Tour and Saudi Arabia’s Public Investment Fund, which bankrolled LIV.

Blumenthal asked the golf executives to provide records by June 26 for all communications between the rival tours leading up to the deal, as well as further information on the structure of the new golf empire.

 

المملكة العربية السعودية أحدث الأخبار, المملكة العربية السعودية عناوين

Similar News:يمكنك أيضًا قراءة قصص إخبارية مشابهة لهذه التي قمنا بجمعها من مصادر إخبارية أخرى.

Senator opens investigation into PGA Tour merger with Saudi-backed LIV GolfSenator 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.
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