Name: Senator Announces Probe of PGA Tour-LIV Golf Merger
Uploaded: 2023-06-16T02:52:42.000Z
Description: Sen. Ron Wyden (D-Ore.) announced on June 15 a probe of the merger between the PGA Tour and LIV Golf, the latter of which is funded by the Saudis.

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Sen. Ron Wyden (D-Ore.) announced on June 15 a probe of the merger between the PGA Tour and LIV Golf, the latter of which is funded by the Saudis.

Wyden, chairman of the Senate Financial Services Committee, also announced a plan to strip away the tax treatment of the Saudi Arabia Public Investment Fund (PIF).

In <a href="https://www.finance.senate.gov/chairmans-news/wyden-launches-investigation-of-pga-saudi-pif-deal-announces-plan-to-revoke-saudi-pifs-special-tax-treatment" target="_blank" rel="noopener">a letter</a>, Wyden informed PGA Tour Commissioner Jay Monahan IV and PGA Chairman Ed Herlihy of the investigation.

"The PGA Tour’s involvement with PIF raises significant questions about whether organizations that tie themselves to an authoritarian regime that has continually undermined the rule of law should continue to enjoy tax-exempt status in the United States," wrote Wyden.

"In addition, I believe it is critical that lawmakers understand what risks this arrangement may pose to America's national interests, particularly with respect to foreign investment in U.S. real estate, such as locations neighboring military facilities or sensitive manufacturing centers, and how you plan to mitigate those risks," he continued.

Wyden cites human rights abuses by Saudi Arabia including "detaining dissidents, torturing women’s rights activists, and carrying out arbitrary killings." He also cited the 2018 dismemberment of Saudi critic Jamal Khashoggi at the Saudi consulate in Istanbul. The United States has blamed Saudi Prince Mohammed Bin Salman for being behind the killing of The Washington Post columnist.

In 2022, Monahan blasted LIV Golf as being part of a “foreign monarchy that is spending billions of dollars in an attempt to buy the game of golf.” Wyden cited this statement in his letter.

"After more than a year of suspending and publicly scolding PGA players for accepting large buyouts from Saudi-backed LIV Golf, you are now personally pushing for a Saudi-backed buyout of the PGA Tour," wrote Wyden.

"Given the Tax Code’s prohibition on Section 501(c)(6) organizations providing any private benefit to any individual, I have serious questions about any compensation arrangements, formal or informal, proposed as part of this merger framework intended to personally and financially benefit the already lavishly-compensated officers and employees of the PGA Tour," he continued.

Wyden requested the PGA Tour to answer questions on a range of topics related to the merger, which was announced last week and sparked outrage <a href="https://www.theepochtimes.com/shock-pga-liv-golf-merger-dismays-some-senators-while-others-remain-unperturbed_5322205.html" target="_blank" rel="noopener">including from senators</a>. Wyden, along with Sen. Elizabeth Warren (D-Mass.), <a href="https://www.wyden.senate.gov/news/press-releases/wyden-warren-call-on-justice-department-to-closely-scrutinize-pga-tour-liv-saudi-investment-fund-golf-merger-for-potential-antitrust-violations_-" target="_blank" rel="noopener">asked</a> the Department of Justice this week to look into the merger. The department will be doing so, <a href="https://www.wsj.com/sports/golf/pga-tour-liv-golf-merger-investigation-antitrust-28d014bf" target="_blank" rel="noopener">reported</a> The Wall Street Journal on June 15.

The Epoch Times has reached out to the PGA Tour and LIV Golf for comment.

The Senate Select Subcommittee on Investigations <a href="https://www.theepochtimes.com/senate-committee-launches-probe-into-liv-golf-and-pga-tour-merger_5327828.html" target="_blank" rel="noopener">sent a June 12 letter</a> to LIV Golf CEO Greg Norman requesting records and organizational charts. This letter announced a probe of the merger by the subcommittee, chaired by Sen. Richard Blumenthal (D-Conn.).

<em>From <a href="https://www.theepochtimes.com/senator-announces-probe-of-pga-tour-liv-golf-merger_5336389.html">The Epoch Times</a></em>

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