US Justice Department to investigate proposed PGA Tour-LIV Golf deal, per WSJ | CNN

  • 📰 CNN
  • ⏱ Reading Time:
  • 19 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 11%
  • Publisher: 95%

Finance Finance Headlines News

Finance Finance Latest News,Finance Finance Headlines

The US Department of Justice is to investigate the planned partnership between the PGA Tour and the Saudi Public Investment Fund, which owns LIV Golf, over antitrust concerns, according to the Wall Street Journal citing people familiar with the matter

The reported DOJ probe into the surprise partnership casts doubt over the new, as yet unnamed commercial enterprise between the organizations and the Europe-based DP World Tour. “We are confident that once all stakeholders learn more about how the PGA TOUR will lead this new venture, they will understand how it benefits our players, fans, and sport while protecting the American institution of golf,” the Tour said in a statement to CNN on Thursday.

The Justice Department had previously opened an investigation into the PGA Tour due to its battle with LIV Golf. CNN has reached out to the DOJ and LIV Golf for comment. On Thursday, Senate Finance Committee Chairman Ron Wyden sent a letter to PGA Tour leadership asking a variety of questions to seek clarification and evidence associated with the deal.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 4. in FİNANCE

Finance Finance Latest News, Finance Finance Headlines