PGA Tour, LIV Golf merger: Justice Department to investigate

The Justice Department’s antitrust division has notified the PGA Tour that it will review its regulations. merger proposal About the partnership with Saudi Arabia-funded LIV Golf, a source told NBC News on Thursday.

The Justice Department and LIV Golf declined to comment.

In a statement to CNBC, the PGA Tour said, “The more stakeholders know how the PGA Tour will lead this new venture, the better it will be for players, fans and sports while protecting America’s institutions. I am confident that you will understand how it will benefit you.” of golf. ”

Any interest by the Justice Department is an extension of an existing investigation, and it is not uncommon for U.S. antitrust authorities to review the profile’s transactions, according to people familiar with the matter. It also said its investigation did not indicate that the transaction violated antitrust laws.

The Justice Department had already conducted an investigation into professional golf in light of the LIV lawsuit.

Announcement of contract as soon as last week raised antitrust concerns.

This week, Democratic Senators Elizabeth Warren of Massachusetts and Ron Wyden of Oregon called on the Justice Department to: open the probe come to an agreement. Senator Richard Blumenthal (D-Connecticut) has also launched an investigation into the deal.Widen released his own investigation Thursday.

The formerly hostile relationship between the PGA Tour and LIV has already come under scrutiny by federal prosecutors, who launched an investigation last year into whether the PGA Tour engaged in anti-competitive conduct.

The LIV, which is backed by a so-called public investment fund controlled by Saudi Arabia’s Crown Prince Mohammed bin Salman, divided the professional golf world in two when it emerged as a rival to the PGA Tour.

Connections between emerging leagues and kingdoms despicable record upon human rights, caused a series of controversies. But with the help of reported $2 billion investment A LIV hung from the crown prince’s fund big prize I succeeded in inviting you with a special offer famous golfer to play in that tournament.

former president donald trump Last summer, he hosted an LIV tournament at his New Jersey golf club, drawing the ire of Saudi critics. family and survivors 9/11 terrorist attack.

The PGA TOUR and LIV Golf went hand in hand of and then courtPGA Tour Commissioner Jay Monaghan said, openly criticized The rival league made the announcement of the merger proposal all the more surprising. Last week’s announcement said the partnership would facilitate mutual termination of all pending lawsuits.

If the merger goes through, the two companies will combine their businesses and rights to form a new for-profit company. PGA Tour policy committee needs to approve deal, Monaghan told the players in a note.

The PGA Tour revealed Monaghan’s current position on Tuesday. recovery I am on leave of absence due to an unexplained illness.