Lawmakers Call for CFIUS Assessment of LIV Golf-PGA Tour Deal
The Treasury Department should “assess” whether the Committee on Foreign Investment in the U.S. has the jurisdiction to review the Saudi-backed LIV Golf’s purchase of the PGA Tour, two Democrats said in a June 16 letter to Treasury Secretary Yellen. Sen. Sherrod Brown, chair of the Senate Banking Committee, and Rep. Maxine Waters, the top Democrat on the House Financial Services Committee, said that if CFIUS has jurisdiction over the deal, the committee should “resolve any national security risks related to the transaction.”
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Brown and Waters said they are “deeply concerned” by the merger, calling Saudi Arabia a “repressive government” implicated in human rights violations. Yellen told the House Financial Services Committee last week that she couldn’t comment on a potential review but suggested the committee would scrutinize the acquisition if it impinges on U.S. national security (see 2306130055).