The third round of THE PLAYERS Championship in Ponte Vedra Beach, Florida, was suspended due to severe storms. The PGA TOUR logo was visible during the suspension. Now, the PGA Tour is facing a public defense of its deal with Saudi-backed LIV Golf ahead of an upcoming Senate hearing. Ron Price, the tour’s chief operating officer, wrote an op-ed in The Athletic defending the deal and addressing concerns about it being considered a merger.
Price acknowledged the previous legal disputes between the PGA Tour and PIF and understood the questions being raised by various stakeholders. This op-ed comes after a recent shake-up in the PGA Tour’s policy board, with former AT&T CEO Randall Stephenson resigning amidst the anticipation of a broader investigation into the merger.
Senators Richard Blumenthal and Ron Johnson have called for a Senate hearing to examine the proposed deal and the risks associated with foreign government investment in American cultural institutions. While PGA Tour Commissioner Jay Monahan will not be testifying, Price and policy board independent director Jimmy Dunne will be representing the tour.
Price emphasizes that the deal is not a merger and provides a favorable outcome for the future of golf. He explains that the PGA Tour will remain intact, while the newly formed subsidiary will have PIF as a minority investor. Price believes that the deal will lead to further investment in players, events, venues, communities, and technology.
Controversy has surrounded LIV Golf since its inception, with critics accusing the Saudi-backed fund of sportswashing and diverting attention from human rights violations. Stephenson, in his resignation letter, expressed concerns about the deal due to the U.S. intelligence report implicating Saudi Crown Prince Mohammed bin Salman in the killing of journalist Jamal Khashoggi.
Lawmakers and top Senate Democrats have raised antitrust concerns and called for an investigation into the merger. The upcoming Senate hearing will shed light on the deal and its implications.
Overall, the PGA Tour is defending its deal with LIV Golf and explaining why it is the best option for the future of golf. The tour is addressing concerns, emphasizing that it is not a merger, and highlighting the potential benefits of the agreement. However, controversy and skepticism remain, with lawmakers and stakeholders expressing doubts and calling for a thorough investigation.
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