Congress is getting involved in the reported merger between the PGA Tour and LIV Golf. On Tuesday PGA Tour representatives Ron Price and Jimmy Dunne met with the U.S. Permanent Subcommittee on Investigation. LIV Golf officials, PGA Tour Commissioner, and LIV Golf Commissioner were not in attendance. Some of the details on the PGA LIV Golf senate hearing have been coming out. And some of the details are juicy, but more on that later.
How’d We Get Here?
How did we get here? That one’s easy. The PGA Tour for decades were greedy and didn’t listen to the players bringing in the money. It’s too late for the Tour to make good on those asks now. Enter Saudi Arabia’s Public Investment Fund (PIF) and the Governor of the fund, Yasir Al-Rumayyan. His fund has upwards of $600 billion in funds. The PGA Tour is working with about $1.5 billion. It was unsustainable for the PGA Tour to continue to compete against basically unlimited funds. Long story short; the PGA Tour ignored their players for too long, and Yasir Al-Rumayyan has capitalized on the opening in the market.
What’s Next After The PGA LIV Golf Senate Hearing?
So what is the next step? It’s impossible to know that answer. But I think the next step is wait and see. Let’s all wait and see what the details of the agreement are between the PGA Tour, LIV Golf, and the DP World Tour. I think it’s appropriate for Congress to get involved. But I don’t think that time is right now. There is no doubt that working with Yasir, PIF, and Saudi Arabia could be potentially “sports washing” a regime with a questionable human rights record. But oil-rich nations know their product is a finite one. There is only so much oil, and once it’s gone it’s gone. They are using their wealth to create more wealth for generations to come. Maybe the idea of change in the name of financial gains is one worth exploring.