LIV Golf presented a significant threat to the PGA Tour, according to officials who testified before the U.S. Senate Permanent Subcommittee on Investigations. The officials emphasized the need for a deal between the two leagues in order to avoid potential harm to the PGA Tour. LIV Golf, backed by Saudi Arabia’s Public Investment Fund, has the financial resources to challenge the PGA Tour’s dominance. The proposed merger between the two leagues has sparked controversy due to concerns about Saudi Arabia’s human rights record. Several notable golfers have already left the PGA Tour for LIV Golf, putting the Tour’s revenue streams at risk. However, the PGA Tour sees the potential for a “win-win situation” for both leagues if an agreement can be reached. The details of the deal, including the price and ownership structure, have not been disclosed. The PGA Tour will have a controlling interest in the board of the new entity, while Saudi Arabia’s PIF governor, Yasir Al-Rumayyan, will serve as chairman and PGA Tour Commissioner Jay Monahan as CEO. The negotiations and discussions surrounding the merger were revealed in documents released by the Subcommittee. The documents suggest that LIV Golf considered replacing its CEO and forming teams for Tiger Woods and Rory McIlroy. However, the proposed ideas were not included in the final agreement. The Subcommittee’s hearing aimed to shed light on the merger and its implications for the golf industry.
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