Senate Finance Committee Chairman Ron Wyden, a Democrat from Oregon, announced on Thursday that he had launched an investigation into the matter. The PGA Tour’s planned merger with Saudi-backed LIV Golf.
Wyden’s research announcement has added to the criticism of the agreement between the PGA Tour and the Saudi Public Investment Fund for LIV golf. The senator has asked PGA Tour leadership for information ranging from details about the framework of the deal to an assessment of the merger’s impact on national security.
and Letters to Organizational Leaders Wyden said Thursday that the merger “raises serious questions about whether organizations associated with authoritarian regimes that have continually undermined the rule of law should continue to enjoy tax-exempt status in the United States.” wrote.
“We are concerned about what risks this arrangement may pose to U.S. national interests, particularly with respect to foreign investments in U.S. real estate, particularly those located adjacent to military installations and sensitive manufacturing centers, and how to assess those risks. We think it’s important that lawmakers understand how we intend to mitigate,” Wyden wrote.
Wyden also announced: press release He said he plans to introduce a bill to cancel the Saudi Public Investment Fund’s “special tax exemptions applicable to certain types of investment income by foreign governments and sovereign wealth funds.” Wyden argued that imposing the fine could have a material impact on Saudi sovereign wealth funds, which are estimated to be worth more than $600 billion, according to his office.
The PGA Tour did not immediately respond to NBC News’ request for comment.
Wyden’s announcement came a day after he and Senator Elizabeth Warren of Massachusetts. Justice Department Calls for ‘Strongest Investigation’ Regarding the PGA Tour’s planned merger with Saudi-backed LIV Golf, in a letter Tuesday, the partnership raised antitrust concerns and said the Middle Eastern country would “wish its abysmal human rights record into a ‘sports wash’. “It will help to do.”
Senator Richard Blumenthal, Democrat, Connecticut, On Monday, it also announced an inquiry into the merger, seeking records from PGA officials outlining the work that led to the merger. In a letter to PGA Tour Commissioner Jay Monahan, Blumenthal, who chairs the Senate Permanent Subcommittee on Investigations, said the merger would “represent the role of the Saudi government and foreign government agencies in influencing this effort.” raises concerns about the risks posed by undertaking the management of important tours.” American institution. ”
https://www.nbcnews.com/politics/congress/wyden-launches-investigation-pga-tours-merger-saudi-funded-liv-golf-rcna89522 Wieden launches investigation into merger of PGA Tour and Saudi-funded LIV Golf