The saga involving the PGA Tour and Saudi Arabia’s Public Investment Fund-backed LIV Golf continues. After the rival golf leagues announced a surprising partnership of sorts last week, a U.S. House of Representatives member proposed legislation to repeal the PGA Tour’s tax-exempt status. A Senate subcommittee has also launched an investigation into the joint golf venture.
"PIF’s role as an arm of the Saudi government and PGA Tour’s sudden and drastic reversal of position concerning LIV Golf raises serious questions regarding the reasons for and terms behind the announced agreement.” Sen. Richard Blumenthal (D-Conn.) wrote that in a June 12 letter to PGA Commissioner Jay Monahan. (The Public Investment Fund, "PIF," is a Saudi Sovereign Wealth Fund.) Monahan has just recently taken a leave of absence for an undisclosed medical situation.
