Schedule for questioning of PGA Tour

On July 11, a special subcommittee in the US Senate will publicly question the PGA Tour's joint venture with the Saudi Public Investment Fund.

The autopsy is scheduled to take place in Washington, D.C., and will be chaired by Senator Richard Blumenthal, chairman of the Permanent Subcommittee on Investigations.

According to Golf Channel on June 21, Mr. Blumenthal signed and issued invitations to PGA Tour Special Envoy Jay Monahan, Chairman Yasir Al-Rumayyan of the Saudi Public Investment Fund (PIF), and CEO Greg Norman of the LIV Golf League. The document requires the parties to prepare an explanation of the origin of the deal, the specific terms and methods of cooperation, as well as the impacts, including risks, on the future of professional golf in the US. Many PGA Tour members were also invited to attend online.

PIF Chairman Yasir Al-Rumayyan and LIV Golf CEO Greg Norman will have to explain before the US Senate about the joint venture deal with the PGA Tour. Photo: Golf Digest — PIF Chairman Yasir Al-Rumayyan and LIV Golf CEO Greg Norman will have to explain before the US Senate about the joint venture deal with the PGA Tour. Photo: *Golf Digest*

Immediately after receiving the invitation from the Senate, the PGA Tour responded: "We look forward to answering questions about the framework agreement with PIF Saudi, in which the PGA Tour continues to lead the future of professional golf and benefits the industry. The immediate cooperation ends a costly legal dispute with LIV Golf League and PIF Saudi." Recently, the PGA Tour announced internally that the organization has spent $50 million on litigation back and forth with the Saudi economic organization.

Special Envoy Monahan is taking a break from the PGA Tour to recuperate after a health incident, and it is unclear when he will return. In the PGA Tour leadership, Monahan holds the ultimate power. When negotiating with PIF Saudi, only he, the President and the Deputy of the Policy Council directly negotiated with PIF President Al-Rumayyan. Norman was not involved in this process, even though he is the CEO of LIV Golf League. This arena is owned by PIF Saudi, will merge commercial activities with PGA Tour and DP World Tour, and operate through a common legal entity. This project was jointly announced by Monahan and Al-Rumayyan on NBC on June 6. The most powerful figure of PIF Saudi informed Norman just minutes before the broadcast.

The US government is concerned about the implications of the deal, especially when the PGA Tour reversed its stance after two years of fierce fighting with PIF Saudi. The US Justice Department also launched an investigation into suspected antitrust violations after the two sides announced plans to open a joint venture. US lawyers say antitrust laws could be problematic because it is created by combining three large organizations into one legal entity with the potential for dominance.

With the Justice Department stepping in, the PGA Tour – DP World Tour – PIF Saudi alliance will be put on hold or at risk of collapse. According to Golf Digest, PGA Tour leaders, in a recent meeting, considered the possibility that the deal could take at least a year to implement.

The Committee on Foreign Investment in the United States may also intervene on national economic security grounds.

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