Writer’s Strike End a Boon for Sports Networks, Agencies
Senator Richard Blumenthal has written a letter to Yasir al-Rumayyan, Governor of Saudi Arabia’s Public Investment Fund, to get him to testify in front of a Subcommittee over Blumenthal’s investigation into the PIF’s merger agreement with the PGA Tour.
Blumenthal, a Democrat from Connecticut, is requesting information and documents regarding PIF’s investments in the United States. His investigation opened on June 12 following the PIF-owned LIV Golf’s merger announcement with the PGA Tour. After al-Rumayyan declined an invitation to testify at the Subcomittee’s July 11 hearing, citing scheduling conflicts, Blumenthal is now requesting his presence at a hearing in September.
“While the Subcommittee’s July 11, 2023 hearing revealed important information regarding the Framework Agreement between PGA Tour and PIF, the Subcommittee requires additional information to understand PIF’s future role in American professional golf and its plans for other investments in U.S.-based entities,” Blumenthal wrote. “Given this need for additional information, the Subcommittee renews its request for your in-person testimony on a mutually acceptable date in September 2023.”
Among new details revealed at the July 11 hearing were that the PIF-PGA Tour agreement includes the possibility of Rory McIlroy and Tiger Woods owning LIV Golf teams and “play in at least 10 LIV events.” The PGA Tour and Saudi Arabia have a self-imposed Dec. 31 deadline to finalize their definitive merger agreement.
Al-Rumayyan is additionally chairman of Newcastle United, the English Premier League soccer club owned by the PIF, and chairman of Al-Hilal, the Saudi soccer club that has reportedly made unsuccessful bids to sign global stars Kylian Mbappé and Lionel Messi.
