2023-06-22 03:19:22
network reportedCBSThe news that the US Senate sent an invitation to the Governor of the Saudi Public Investment Fund, Yasser Al-Rumayyan, to attend a hearing on the merger deal of the “PGA Tour” (PGA) and the “LIV” (LIFE) golf tournament.
During the hearing, scheduled for July 11 in Washington, D.C., more information will be collected regarding the framework of the deal and its potential repercussions, according to the same network.
Other individual invitations have also been sent to PGA Tour Commissioner Guy Monahan and Life Golf CEO Greg Norman.
The invitation letter asked the three to prepare to discuss “the expected role of the (Saudi) Public Investment Fund in professional golf in the United States.”
And earlier in June, the American “PGA” golf league announced a sudden merger with the Saudi-funded “LIV” league, in an attempt to bridge the rift between the two parties following a two-year dispute.
US media described the deal as a “victory” for the oil-rich Gulf kingdom.
The deal would lead to the creation of a “new collectively owned for-profit entity” following it also included the European DB World Tour. After the deal, Monahan said, “After two years of turmoil and distraction, this is a historic day for the game we all know and love.”
This session comes following an investigation announced by US Senator Richard Blumenthal, in which Senator Ron Johnson participates.
“Our goal is to reveal the facts regarding what was reached in BGA’s round deal with the Saudi Public Investment Fund and what the Saudi acquisition means for the future of this cherished American institution and our national interest,” Blumenthal said in a statement on Wednesday.
Blumenthal is the chairman of the US Senate’s Permanent Subcommittee on Investigations, of which Johnson is a ranking member.
Democratic Senator Blumenthal has long been known for his critical positions on Saudi Arabia, and he previously proposed freezing arms sales to the Kingdom for a period of one year in response to the “OPEC Plus” reduction in oil production before the US midterm elections last fall.
But Blumenthal’s investigation is not the only one, following another Democratic senator announced the opening of a similar investigation.
Earlier this month, the newspaper reported:Washington PostSenator Ron Wyden has opened a “wide-ranging” investigation into the financial issues related to the deal.
The newspaper said the investigation is the latest in a series of actions by Congress that might threaten the controversial deal and threaten the BGA League’s status as a tax-exempt nonprofit organization in the United States.
According to the newspaper, the chairman of the Senate Finance Committee, Ron Wyden, sent a letter to officials in the “BGA” league, informing them that the deal “raises important questions regarding whether any organization that associates itself with an authoritarian regime that has constantly worked to undermine the sovereignty of law to enjoy tax-exempt status in the United States.”
According to the siteGolf DigestSpecialist in the game, this merger may be reviewed by the Committee on Foreign Investment in the United States, a government agency that evaluates the risks that foreign investments may pose to US national security.
And the Saudis signed with the most famous names in golf to participate in their new tournament, which was announced for 2021, following they “lured them with money,” according to the newspaper.The New York Times“.
The American newspaper said earlier that the Saudi-funded league comes to compete with the “BGA” championships, which is the championship that for decades was the most important event and the highest level in the world golf tournaments and its first standard.
The new name of the merged entity and the structure of the tournaments have not yet been announced, but “BGA” indicated that the parties agreed to “launch a fair and objective process for any player wishing to re-join the European “BGA” and “DB World Tour” championships following the end of the tournament. 2023 season.
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