In a letter addressed to Treasury Secretary Janet Yellen, Senate Banking Chairman Sherrod Brown and Rep. Maxine Waters, the top Democrats in the Senate and the House for banking issues, expressed their concerns regarding the proposed merger between the PGA Tour and LIV Golf. They have asked the Treasury Department to assess whether this merger could pose national security risks. The merger, announced on June 6, was put forth as a resolution to the legal dispute between the PGA Tour and LIV, which is backed by Saudi Arabia’s sovereign wealth fund.
However, the merger has faced criticism from families of the September 11 terror attack victims, who hold Saudi Arabia responsible for the attacks and feel betrayed by the PGA Tour. Prominent PGA Tour players who chose not to join the new circuit and forfeited lucrative contracts have also expressed their disapproval.
In their letter, Brown and Waters requested that the Committee on Foreign Investment in the United States (CFIUS), which reviews mergers and acquisitions by foreign entities for national security risks, determine whether the proposed merger requires approval. They acknowledged that CFIUS should be the authority of last resort and asked for an assessment of any national security risks associated with the transaction.
Waters and Brown pointed out that the post-merger golf entity would be wholly owned by Saudi Arabia’s wealth fund. They highlighted Saudi Arabia’s repressive government, known for suppressing dissent, imprisoning dissidents, and implementing severe punishments. They also mentioned the U.S. intelligence agencies’ judgment that Crown Prince Mohammed bin Salman likely authorized the killing of journalist Jamal Khashoggi in 2018.
The merger has also attracted attention from other members of Congress. Sen. Richard Blumenthal suggested that the Department of Justice block the merger due to antitrust concerns. Senators Mitt Romney and Chris Murphy have also suggested a CFIUS review.
Saudi Arabia has faced accusations of using professional golf as a means of improving its image through “sportswashing.” However, golfer Bryson DeChambeau, who participates in the LIV tournament circuit, recently stated that the country is merely trying to present itself in a new light and do good for the world.
Denial of responsibility! VigourTimes is an automatic aggregator of Global media. In each content, the hyperlink to the primary source is specified. All trademarks belong to their rightful owners, and all materials to their authors. For any complaint, please reach us at – [email protected]. We will take necessary action within 24 hours.
