LIV Golf was on a path to become the leader of professional golf around the world and, in the process, could have operated it for the benefit of the Kingdom of Saudi Arabia. That is why the PGA Tour entered into a financial agreement with the Saudi Public Investment Fund, acting PGA Tour co-commissioner Ron Price said Tuesday before a congressional committee investigating the merger of the two competing tours.
"We faced a real threat that LIV Golf, which is 100-percent financed by the Kingdom of Saudi, would become the leader of professional golf," Price said.entered a new phase Tuesday morning as members of the Tour's leadership testified before a congressional committee investigating the merger.
Sens. Richard Blumenthal and Ron Johnson initially called the hearing, inviting PGA Tour commissioner Jay Monahan, PIF governor Yasir Al-Rumayyan and LIV Golf CEO Greg Norman to attend. However, Al-Rumayyan and Norman declined, citing schedule conflicts, and Monahan continues to recover from health issues which forced him to step away from the Tour last month.
"Instead of accepting this amount of money — call it an investment, call it financing from the Saudi Sovereign Wealth Fund — did you explore other sources of potential investment?" Blumenthal asked Price.
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Rory McIlroy says he’d retire if LIV Golf was the only place to playRory McIlroy laughed off a Saudi-backed idea that he and Tiger Woods own LIV Golf teams, saying Thursday he would retire if playing for LIV was the only option.
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Report: PGA Tour, PIF drop non-poaching clause in new agreementAs the shock waves from the stunning announcement of a deal between the PGA Tour and Saudi Arabia's Public Investment Fund recede, the practical realities of unification are coming to the forefront. Chief among those: how this new agreement will survive the extremely interested eyes of the Justice Department.
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Rory McIlroy hates LIV so much that he'd 'retire' if it was last place to golf on EarthRory McIlroy sounded off on LIV Golf at the Scottish Open. The Saudi-backed league once proposed that the PGA Tour loyalist become an owner of LIV teams.
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Rory McIlroy says he’d rather retire ‘if LIV Golf was the last place on Earth to play golf’ | CNNRory McIlroy said on Thursday that he would rather retire than compete on the Saudi-backed LIV Golf tour even if it “was the last place on Earth to play golf.”
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Breakingviews - Saudi golf shot plays through CFIUS hazardsThe sport of golf is in for a summer grilling. U.S. congressional lawmakers scrutinized PGA Tour officials on Tuesday this week about the group’s tie-up with a rival golf tournament owned by Saudi Arabia. But the country’s Public Investment Fund already has big stakes elsewhere in the United States. Under the scope of the country’s review of foreign investments, those deals technically have more risk. Saudi’s cash infusion in a favorite American hobby will test a new boundary – soft power.
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