Republicans Defend Controversial Saudi-PGA Tour Deal At Senate Hearing
“You carved out a win-win situation," Sen. Ron Johnson told PGA Tour officials.
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“You carved out a win-win situation," Sen. Ron Johnson told PGA Tour officials.
The negotiators of a business deal between the PGA Tour and the Saudi funders of LIV Golf discussed ousting LIV chief executive Greg Norman and giving Tiger Woods and Rory McIlroy their own LIV teams, according to documents obtained by Congress.
(Bloomberg) -- A trove of documents detailing how the biggest merger in golf history came together is raising antitrust flags as PGA officials defend their agreement before lawmakers for the first time.Most Read from BloombergSingapore Minister Faces Most Serious Graft Probe Since 1986DeSantis Says No Thanks to $377 Million in US Energy FundsSaudi Arabia’s PIF Wealth Fund Takes $11 Billion Investment Hit‘Pivotal’ US CPI Report to Show Lowest Core Inflation Since 2021US Inflation Hits Two-Year Lo
The deal to bring Saudi investment into the PGA shocked the golf world and invited scrutiny from Congress as well as the Justice Department, which is looking into potential antitrust violations.
WASHINGTON (AP) — Saudi Arabia's sovereign wealth fund has agreed to invest more than $1 billion in a new commercial entity controlled by the PGA Tour, and Greg Norman will