As the dust settled on the PGA Tour’s announcement that it has an agreement to work alongside LIV Golf, its Saudi-funded rival, the reeling golf world began to take stock of the next steps of the process — and the possible obstacles facing the deal.
for a sport mired in conflict and uncertainty. But there was no shortage of detractors, from players who felt they had been hoodwinked by tour officials to lawmakers who expressed concerns about the Saudis becoming a primary stakeholder in pro golf’s future.
But others said the deal needs more scrutiny, citing antitrust issues, concerns over foreign investments and the Saudis’ cozy relationship with former president The deal between the PGA Tour and the deep-pocketed Saudi Public Investment Fund was done in secret, and many details are still unknown. The first hurdle the agreement needs to clear is the PGA Tour’s policy board.“When we get into those discussions and explain, which I have a lot of work to do, the benefit to our players, to our members, the benefit to our business, I feel like that’s something that we’ll get to,” PGA Tour Commissioner Jay Monahan said.
Legal experts say too little is publicly known about the agreement to predict whether it will be subject to government review. That former official said the DOJ would typically review an initial filing of competitive documents. If there are concerns, that would trigger a more thorough probe that could take months and involve hundreds of thousands of documents before the DOJ either signs off on the deal or moves to stop it.“Everybody knows when the DOJ is going to look at something,” the former official said.
“U.S. officials need to consider whether a deal will give the Saudi regime inappropriate control or access to U.S. real estate,” Wyden said in aRep. John Garamendi introduced a bill Wednesday that would seek to strip the PGA Tour of its tax-exempt status, though the proposal probably would face a steep climb in the GOP-led House.
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