PGA Tour, LIV Golf merger: Justice Department to investigate
PGA TOUR logo is seen during the second round of the Farmers Insurance Open at Torrey Pines South on January 29, 2021 in San Diego, California.
Ben Jared | Pga Tour | Getty Images
The Justice Department’s Antitrust Division has informed the PGA Tour it will review the organization’s proposed merger with Saudi-funded LIV Golf, a source told NBC News.
The Justice Department declined to comment. CNBC has reached out to the PGA Tour and LIV for comment.
The announcement of the deal last week immediately triggered antitrust concerns.
This week, Democratic Sens. Elizabeth Warren of Massachusetts and Ron Wyden and Oregon urged the DOJ to open a probe into the agreement. Sen. Richard Blumenthal, D-Conn., also opened an investigation into the deal. Wyden launched his own investigation Thursday.
The PGA Tour’s once-adversarial relationship with LIV was already under scrutiny by the DOJ, which last year started investigating whether the PGA Tour engaged in anticompetitive behavior.
This is breaking news. Check back for updates.
PGA TOUR logo is seen during the second round of the Farmers Insurance Open at Torrey Pines South on January 29, 2021 in San Diego, California.
Ben Jared | Pga Tour | Getty Images
The Justice Department’s Antitrust Division has informed the PGA Tour it will review the organization’s proposed merger with Saudi-funded LIV Golf, a source told NBC News.
The Justice Department declined to comment. CNBC has reached out to the PGA Tour and LIV for comment.
The announcement of the deal last week immediately triggered antitrust concerns.
This week, Democratic Sens. Elizabeth Warren of Massachusetts and Ron Wyden and Oregon urged the DOJ to open a probe into the agreement. Sen. Richard Blumenthal, D-Conn., also opened an investigation into the deal. Wyden launched his own investigation Thursday.
The PGA Tour’s once-adversarial relationship with LIV was already under scrutiny by the DOJ, which last year started investigating whether the PGA Tour engaged in anticompetitive behavior.
This is breaking news. Check back for updates.
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