Senate Democrat Richard Blumenthal opened an investigation into the surprise merger between PGA Tour and LIV Golf, a deal that has already raised serious concerns among US and European antitrust regulators as well as scrutiny over Saudi Arabia’s involvement as LIV’s backer.
(Bloomberg) — Senate Democrat Richard Blumenthal opened an investigation into the surprise merger between PGA Tour and LIV Golf, a deal that has already raised serious concerns among US and European antitrust regulators as well as scrutiny over Saudi Arabia’s involvement as LIV’s backer.
Blumenthal, chair of the Senate Permanent Subcommittee on Investigations, wrote letters to PGA Commissioner Jay Monahan and LIV Golf CEO Greg Norman requesting records and communications regarding various aspects of the deal, including how the agreement was reached and how any newly formed entity will be structured and run.
The transaction “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 Connecticut senator wrote in his letters to Monahan and Norman.
The US Justice Department, which was already investigating PGA over its dispute with LIV prior to the deal, will also review the proposed deal, according to people familiar with the matter.
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