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Forbes
Forbes
15 Jun 2023


The Justice Department told the PGA Tour it will investigate the recently announced merger between the golf giant and Saudi-backed LIV Golf league because of antitrust concerns, the Wall Street Journal reported Thursday, more than a week after the former rivals surprised the world with the announcement they were merging.

Saudi Tours Golf

The Justice Department told the PGA Tour it will investigate the recently announced merger between ... [+] the golf giant and Saudi-backed LIV Golf league, according to a Wall Street Journal report.

AP/Seth Wenig

The review by the Justice Department makes it unlikely that a transaction between the golf entities will take effect for some time, the Journal reported, citing people familiar with the matter.

The Justice Department had already been investigating a number of golf entities, including the PGA Tour, for antitrust concerns, the Journal reported.

Also on Thursday Sen. Ron Wyden (D-OR), who chairs the Senate Finance Committee, announced a “wide-ranging” investigation into the merger that could threaten the PGA’s tax-exempt nonprofit status.

Forbes could not immediately reach the Justice Department, PGA Tour or LIV Golf for comment.

This is a breaking story and will be updated.

PGA Tour And Saudi-Backed LIV Golf Agree To Sudden Merger (Forbes)