Array
The backlash to the proposed merger between the PGA Tour and LIV Golf intensified as Senate Finance Committee Chairman Ron Wyden, D-Oregon, opened an investigation into the deal on Thursday.
The committee will probe the deal between the US-based PGA Tour and the Saudi Public Investment Fund-backed LIV Golf and assess what the deal means for national security.
“The PGA Tour’s involvement with PIF raises significant questions about whether organizations that tie themselves to an authoritarian regime that has continually undermined the rule of law should continue to enjoy tax-exempt status in the United States,” Wyden said in a statement.
Wyden also said he intends to introduce legislation to revoke the Saudi PIF’s special tax exemption, which applies to certain foreign investment funds and governments.
