Wyden launches investigation into PGA Tour merger with Saudi-funded LIV Golf

Senate Finance Committee Chairman Ron Wyden has announced an investigation into the PGA Tour’s planned merger with Saudi-backed LIV Golf.

Wyden’s announcement of the investigation escalated his criticism of the PGA Tour’s agreement with Saudi Arabia’s Public Investment Fund over LIV Golf. The senator is seeking information from the PGA Tour leadership ranging from details about the framework of the deal to assessing the national security implications of the merger.

in message to the leadership of the organization On Thursday, Wyden wrote that the merger “raises important questions about whether organizations that associate themselves with an authoritarian regime that persistently undermines the rule of law should continue to enjoy tax-exempt status” in the US.

“I think it’s critical that lawmakers understand the risks this arrangement might pose to US national interests, particularly with regard to foreign investment in US real estate, such as locations adjacent to military facilities or sensitive manufacturing centers, and how you plan to mitigate those risks,” Wyden wrote.

Wyden also announced in a press release He plans to introduce legislation to eliminate the “special tax exemption for the Saudi Public Investment Fund that applies to certain types of investment income by foreign governments and sovereign wealth funds.” He said that the imposition of this penalty could have a significant impact on the Saudi sovereign wealth fund, which is estimated to be worth more than $600 billion, according to Wyden’s office.

The PGA Tour did not immediately respond to NBC News’ request for comment.

Wyden’s announcement comes a day after he and Senator Elizabeth Warren asked the Justice Department to “closely scrutinize” the PGA Tour’s planned merger with Saudi-backed LIV Golf, saying in a letter Tuesday that the deal raises antitrust concerns and will help the Middle Eastern country ” laundering his scandalous human rights record.”

A source briefed on the matter confirmed that the Justice Department’s antitrust division has notified the PGA Tour that it will review the planned merger. The Department of Justice was already investigating whether the PGA Tour engaged in anti-competitive behavior after it banned players from playing at its events once they joined LIV Golf.

Also on Monday, Konkola Sen. Richard Blumenthal announced an investigation into the merger, seeking records from PGA officials identifying 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 “raises concerns about the Saudi government’s role in influencing this effort and the risks posed by a foreign government entity taking control of someone dear to it.” American Foundation.