U.S. Justice Department To Investigate PGA Tour Merger With Saudi-Funded LIV Golf
The U.S. Department of Justice will review a proposed deal between the PGA tour and the Saudi Arabian owners of LIV Golf to determine whether it violates federal antitrust laws. In a public statement, the PGA Tour said, “We are confident that once all stakeholders learn more about how the PGA Tour will lead this new venture, they will understand how it benefits our players, fans and sport while protecting the American institution of golf.” The PGA Tour, European tour and Saudi Arabia’s sovereign wealth fund, or Public Investment Fund (PIF), negotiated secretly for two months about a merger. Th...