Senate Subcommittee Subpoenas PIF Consultants Amid PGA Tour Deal

Saudi Arabia's Public Investment Fund Accused of Hampering Investigation into U.S. Golf Takeover

The U.S. Senate Permanent Subcommittee on Investigations has subpoenaed documents from four U.S. consulting firms working for Saudi Arabia's Public Investment Fund (PIF) as part of an investigation into PIF's proposed takeover of professional golf in the U.S.
PIF has responded by filing lawsuits in Saudi Arabia against the consulting firms in an attempt to block them from complying with the subpoenas.
The investigation is taking place as the PGA Tour is close to finalizing a deal with Strategic Sports Group, a consortium of billionaire team owners, that would infuse at least $3 billion into PGA Tour Enterprises.
The PIF is also funding the rival LIV Golf League, and the PGA Tour is in talks to form an alliance with the PIF and DP World Tour.
Senators Richard Blumenthal and Ron Johnson have accused PIF governor Yasir Al-Rumayyan of trying to hamper the investigation and have asked for a legal memorandum explaining the legal bases for PIF's assertions by Feb. 2.