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 Department of Justice’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 on Thursday.
The Justice Department and LIV Golf declined to comment.
In a statement to CNBC, the PGA Tour says, “We are confident that once all stakeholders learn more about how the PGA TOUR will lead this new venture, they will understand how it benefits our players, fans, and sport while protecting the American institution of golf.”
A source with knowledge of the situation says that any interest by the DOJ would be an extension of the preexisting investigation, and would not be unusual for U.S. antitrust authorities to review a transaction of this profile. They also say a review does not suggest the transaction violates antitrust…
2023-06-15 20:06:31
Article from www.cnbc.com