Justice Department looking into PGA Tour deal with LIV’s Saudi backers, AP source says
1 year, 9 months ago

Justice Department looking into PGA Tour deal with LIV’s Saudi backers, AP source says

Associated Press  

The Justice Department has begun to examine an agreement between the PGA Tour and Saudi Arabian backers of LIV Golf to determine whether it violates federal antitrust statutes, a person familiar with the matter told The Associated Press. In a letter to various lawmakers sent last week, Monahan said he would be CEO of the new commercial entity, which he described as a subsidiary of the PGA Tour. Al-Rumayyan, Monahan and two PGA Tour board members who brokered the deal — New York attorney Ed Herlihy and investment banker Jimmy Dunne III — would form the executive committee. “The PGA Tour will at all times hold the majority of the Board seats and be in control of this new entity, regardless of the size of PIF’s investment,” Monahan said in the letter.

History of this topic

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