The PGA Tour-LIV Golf Union Hits a Roadblock Yet Again! $3B Merger Is Far Cry From Over Amid Cold-Shoulder From Yasir Al-Rumayyan

Ever since the historic day of June 6th, 2023, the golf world has turned somewhat upside down. The monumental decision of the PGA Tour to merge with the Saudi Public Investment Fund and form a fourth entity along with LIV Golf and the DP World Tour was announced. It has been over 3 months, and no concrete information regarding the same has been announced yet, and it is keeping the entire golf world in anticipation.

The journey of amalgamating the two former rivals hasn’t been an easy one for the past three months. And, with the latest updates, it seems that the journey of the merger will not be getting any easier anytime soon!

The LIV Golf-PGA Tour merger may not see the light of day

The PGA Tour commissioner said that the deal between the former rivals is being made keeping what is best for golf in mind, but the official authorities disagree. The US Congress Senators have marked the deal as controversial and are seeking full clarity about it. They mentioned doing so earlier.

According to CNBC, during their second hearing, they passed an order to seek clarity and hence subpoenaed the Saudi Public Investment Fund for information related to the merger and other U.S. investments.

Sen. Richard Blumenthal said that the Saudi’s PGAT merger is not the only deal they have in the country; instead, “it is a part of a web of growing investments in this country. They are largely unknown, and they are almost entirely without oversight.” Blumenthal said that he issued a subpoena on Wednesday in the name of USSA International LLC, the PIF’s wholly-owned U.S. subsidiary, to check the PIF’s investments in the country.

The senator believed that the Saudi fund was exploiting the loopholes in the investment platforms to spread their influence and expand their investments in the US. If this is the case, then “at its core, then, this is not a business deal,” said Benjamin Freeman, director of the Democratizing Foreign Policy Program at the Quincy Institute.

Read More: The $3B PGA Tour Merger; LIV Golf Pioneer Yasir Al Rumayyan Looks for a Seat Beside Bill Gates at the Exclusive ‘Invite Only Club’, Per Reports

Although no further information about what the reply was from the PGA Tour, LIV Golf, or Saudi PIF officials is available, there are definitely more hindrances that will come the merger’s way.

The hurdles to the controversial merger are not ending

Just a few days before, the US Congress Senators said that they would be keeping a close eye on the structure of the deal and the implications it would have on the sport. The senators expressed their inhibitions about the merger. They said that it would be the PIF money boosting the league, and hence, a proper green light from the committee would be required.

Not only this, but the havoc that Yasir-Al-Rumayyan’s absence created during the Senate hearings was much criticized. His absence from the hearing was noted after he made some really bold demands from the committee. The US Subcommittee wanted the PIF Governor to testify in front of the legislation, but he pushed back, citing his reasons of “sovereignty and international comity.”

Tune in to find out the further details that unravel in the PGA Tour-LIV Golf deal and to witness how things unfold!

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