Oct 29, 2022; Miami, Florida, USA; Yasir Al-Rumayyan (L) walks next to Saudi golf CEO Majed Al Surour (R) during the second round of the season finale of the LIV Golf series at Trump National Doral. Mandatory Credit: Jasen Vinlove-Imagn Images A report by the U.S. Senate Permanent Subcommittee on Investigations accused the Saudi Public Investment Fund of entering negotiations with the PGA Tour only due to the threat of discovery in their antitrust lawsuit.
The report, released Friday, outlined the subcommittee’s findings from an inquiry into the June 2023 “framework agreement” for a merger between the PGA Tour, the DP World Tour and the PIF’s golf assets, namely LIV Golf.
Sen. Richard Blumenthal (D-CT), chair of the PSI, was among those concerned 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.”
But the subcommittee’s investigation goes further back to before that shocking announcement, when LIV Golf was pursuing antitrust litigation against the PGA Tour for denying golfers the opportunity to play on both tours.
“The Subcommittee’s inquiry revealed that the first significant back and forth about a potential agreement between the PIF and the PGA Tour began with a renewed push from a representative of the PIF to broker a deal on April 14, 2023,” the report said, “and that a key term of the initial Framework Agreement entered into by the PIF and the PGA Tour involved the dismissal, with prejudice, of pending litigation between LIV Golf and the PGA Tour.
“On April 7, 2023, a judge in the Northern District of California had ruled in that litigation that the PIF and its Governor, Yasir al-Rumayyan, were subject to discovery and depositions by lawyers for the PGA Tour. This deposition would likely have revealed details of the PIF’s operations and Governor al-Rumayyan’s control over its commercial investments.”
Blumenthal went on to write that “U.S. defenses are inadequate to protect against increasingly sophisticated foreign influence efforts by Saudi Arabia and other malign actors and exposed loopholes within the Foreign Agents Registration Act (FARA) that allow foreign governments to escape accountability.”
The PGA Tour and the PIF have supposedly been in negotiations for some time now, though the PGA Tour has since acquired additional funding for its new for-profit endeavor, PGA Tour Enterprises, from a coalition of sports owners and investors called Strategic Sports Group.
The PGA Tour and LIV have held meetings with President Donald Trump in recent weeks, which have not produced any material progress in the talks.
–Field Level Media
This news was originally published on this post .
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