A Senate panel investigating the proposed tie-up between the PGA Tour and Saudi-backed LIV Golf pried loose new details on the deal’s financing and side arrangements in a hearing Tuesday.
PGA Tour Chief Operating Officer Ron Price and PGA Tour Policy Board Member Jimmy Dunne, who helped negotiate the agreement, defended the merger against senators’ concerns that Saudi Arabia will use investments in golf to divert attention from human rights abuses. New documents released by the Senate’s Permanent Subcommittee on Investigations also raised antitrust concerns.
Here are the key takeaways:
$1 Billion Investment
A Saudi sovereign wealth fund would ...
