PGA Tour ‘confident’ Congress will understand new venture when it ‘learns more’

The PGA Tour is confident it will be able to assure Congress it controls the shock new venture with Saudi Arabia’s sovereign wealth fund after a United States Senator opened an investigation into the deal.

The PGA announced a week ago a plan to combine its commercial business with those of Saudi Arabia’s Public Investment Fund (PIF), which includes the LIV Golf series that the PGA had previously been in open dispute with.

Richard Blumenthal, the Democratic Senator for Connecticut, wrote to PGA Tour chief executive Jay Monahan and his LIV Golf counterpart Greg Norman on Monday to say the Permanent Subcommittee on Investigations was “reviewing matters” concerning the deal.

Today I am opening a probe into the PGA Tour merger as Chair of the Permanent Subcommittee on Investigations. I am demanding information from PGA & LIV on how they came to this agreement with the Saudi Public Investment Fund & how this new entity will be structured & operated. pic.twitter.com/zR5AhwU3PS

— Richard Blumenthal (@SenBlumenthal) June 12, 2023

Senator Blumenthal wrote in his letter to Monahan: “PGA Tour’s agreement with PIF regarding LIV Golf raises concerns 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.”

In response, the PGA Tour issued a statement which read: “We are confident that once Congress learns more about how the PGA Tour will control this new venture, they will understand the opportunities this will create for our players, our communities and our sport, all while protecting an American golf institution.”

The PGA insists the new venture is not a merger and that it is not owned by PIF. It says PIF will be investing