Senator Richard Blumenthal, a Democrat from Connecticut, has suggested that Congress could hold a hearing on the controversial merger between the PGA Tour and Saudi-backed LIV Golf in the coming weeks. He believes that the deal may have national security implications.
Blumenthal, who chairs the Senate homeland security subcommittee on investigations, is determined to uncover the details of how the agreement was made. He has previously reached out to the leaders of both sports organizations, requesting records related to the merger.
During an interview on CBS’s “Face the Nation,” Blumenthal emphasized that the merger involves a repressive foreign government taking control of an iconic American institution in an attempt to improve its public image.
The Justice Department has already expressed its intention to investigate the deal due to antitrust concerns.
Blumenthal stated that the public will soon have the opportunity to learn about the negotiation process between the two sides.
Blumenthal argues that the merger effectively allows the Saudis to take control of the entire sport, raising concerns about national security and financial implications.
Democrats in the House and Senate who are involved in banking issues have contacted Treasury Secretary Janet Yellen to determine whether the merger requires approval from the Committee on Foreign Investment in the United States. This committee examines mergers, acquisitions, and takeovers of US companies by foreign entities for national security reasons.
The announcement of the merger, made earlier this month, has faced strong criticism, including from families of 9/11 attack victims who feel that the PGA Tour has betrayed them. LIV Golf is owned by the Saudi Arabian Public Investment Fund, which is controlled by the Saudi crown prince.
Several PGA Tour players who declined offers from LIV Golf have also expressed their surprise and frustration with the merger.
PGA Tour had previously been engaged in litigation against LIV Golf, but the two sides announced that the legal dispute would end as part of the merger agreement.
Jay Monahan, PGA Tour commissioner, stated that the merger will create an organization that benefits players, partners, and fans. However, Monahan is currently on medical leave, the details of which have not been disclosed.
When asked if he would issue a subpoena for records, Blumenthal confirmed that he is prepared to use any legal means necessary to obtain information.
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