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WASHINGTON : The framework of the merger agreement of the PGA Tour and Saudi-backed LIV Golf says a for-profit subsidiary of the U.S. golfing body will be created to manage commercial investments and assets for all tours, according to a copy reviewed by Reuters on Monday.
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The PGA Tour said Wednesday that it would appear next month before a Senate subcommittee whose leader asked executives from the tour, Saudi golf interests and LIV Golf to testify as Congress investigates the business deal that upended the sport.
The leading figures in the controversial partnership between Saudi Arabia and the PGA Tour have been summoned to attend a United States Senate hearing next month.
The leading figures in the controversial partnership between Saudi Arabia and the PGA Tour have been summoned to attend a United States Senate hearing next month.
WASHINGTON: A US Senate panel on Wednesday invited PGA Tour Commissioner Jay Monahan, Saudi Arabia's Public Investment Fund Governor Yasir al-Rumayyan and LIV Golf CEO Greg Norman to testify at a Jul 11 hearing.
The U.S. Senate Permanent Subcommittee on Investigations has invited PGA Tour commissioner Jay Monahan, LIV Golf League CEO and commissioner Greg Norman and Yasir Al-Rumayyan, governor of Saudi Arabia's Public Investment Fund, to testify at a July 11 hearing regarding the entities' planned alliance in men's professional golf.
Eight-time major winner Tom Watson says the PGA Tour’s new partnership with Saudi Arabia appears to indicate “a more desperate financial situation than has been previously revealed by the Tour”.