Money Control Place
  • Politics
  • Business
  • Stocks
  • Investing
  • Politics
  • Business
  • Stocks
  • Investing

Money Control Place

Business

Lawmaker demands more information about PGA Tour and LIV Golf merger

by June 15, 2023
June 15, 2023
Lawmaker demands more information about PGA Tour and LIV Golf merger

Sen. Richard Blumenthal, D-Conn., on Monday demanded to see records from PGA officials outlining work that ended in the tour’s merger with Saudi Arabia-backed LIV Golf.

Blumenthal, chairman of the Senate Permanent Subcommittee on Investigations, said he fears the risks brought on by the Saudi government taking hold of a popular athletic pastime.

PGA Tour’s agreement with the Saudi’s Public Investment Fund regarding LIV Golf ‘raises concerns about the Saudi government’s role in influencing this effort and the risks posed by a foreign government entity assuming control over a cherished American institution,’ the lawmaker wrote in a letter to PGA Tour Commissioner Jay Monahan.

Blumenthal appeared to cite the PGA’s own words and actions prior to last week, when the tour appeared to stand in total opposition to LIV.

Just one year ago, Monahan famously said any player aligned with LIV should feel the world’s shame: “I would ask any player that has left, or that would ever consider leaving, have you ever had to apologize for being a member of the PGA Tour?’

‘PIF has announced that it intends to use investments in sports to further the Saudi government’s strategic objectives,’ according to Blumenthal. ‘It established LIV Golf Investments in 2021 to serve this goal. Critics have cast such Saudi investments in sports as a means of ‘sportswashing’ — an attempt to soften the country’s image around the world — given Saudi Arabia’s deeply disturbing human rights record at home and abroad. In fact, prior to this agreement, PGA Tour was one of the loudest critics of LIV Golf’s affiliation with Saudi Arabia.’

Blumenthal said the PGA Tour’s tax-exempt status gives his committee the authority to demand documentation and answers from the organization.

“We are confident that once Congress learns more about how the PGA TOUR will control this new venture, they will understand the opportunities this will create for our players, our communities and our sport, all while protecting an American golf institution,’ the PGA said in a statement.

A representative for LIV declined to comment on Monday.

The PGA Tour is set to come to Blumenthal’s state later this month for the Travelers Championship at TPC River Highlands in Cromwell.

This post appeared first on NBC NEWS
0
FacebookTwitterGoogle +Pinterest
previous post
Federal Reserve pauses interest rate hikes this month
next post
Inflation cooled to 4% in May — the lowest reading in two years

Related Posts

UnitedHealth says it faces DOJ investigation over Medicare...

July 25, 2025

Key Fed inflation measure rose 2.8% in March...

April 29, 2024

Americans got stingier after a pandemic surge in...

June 29, 2023

Spirit Airlines to pay up to $8.25 million...

August 26, 2023

UAW president warns new walkouts could happen at...

October 16, 2023

U.S. economy added 187,000 jobs in August, more...

September 6, 2023

Nvidia says Anthropic is telling ‘tall tale’ in...

May 2, 2025

Inflation rate hit 3.2% in July: Here’s why...

August 12, 2023

Ring home security customers will get refunds over...

April 26, 2024

U.S. to ‘beat up’ airlines when necessary for...

July 22, 2023

    Get free access to all of the retirement secrets and income strategies from our experts! or Join The Exclusive Subscription Today And Get the Premium Articles Acess for Free


    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Latest

    • S&P 500 Breaking Out Again: What This Means for Your Portfolio

    • Québec Communities Vote “No” to La Loutre Graphite Mine

    • Top 5 Canadian Mining Stocks This Week: Carlton Precious Gains 78 Percent

    • Lode Gold Closes $1.51 Million Upsized Private Placement

    • Editor’s Picks: Gold Sets New Price Record, Silver Hits 14 Year High

    • Mortgage rates see biggest one-day drop in over a year

    Categories

    • Business (1,370)
    • Investing (2,870)
    • Politics (3,699)
    • Stocks (1,781)
    • Uncategorized (20)
    • About us
    • Contact us
    • Privacy Policy
    • Terms & Conditions

    Disclaimer: MoneyControlPlace.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2025 moneycontrolplace.com | All Rights Reserved