{"id":289589,"date":"2023-09-13T17:41:37","date_gmt":"2023-09-13T22:41:37","guid":{"rendered":"https:\/\/www.casino.org\/news\/?p=289589"},"modified":"2023-09-13T21:09:08","modified_gmt":"2023-09-14T02:09:08","slug":"senator-subpoenas-saudi-owned-firm-in-liv-probe","status":"publish","type":"post","link":"https:\/\/www.casino.org\/news\/senator-subpoenas-saudi-owned-firm-in-liv-probe\/","title":{"rendered":"LIV Golf Probe Sees US Senator Subpoena Saudi-Owned Firm"},"content":{"rendered":"<p>A U.S. senator is turning up the heat in his probe into the Saudi Arabian government\u2019s involvement in professional golf and the proposed merger between LIV Golf and the PGA Tour.<\/p>\n<figure id=\"attachment_289590\" aria-describedby=\"caption-attachment-289590\" data-style=\"width: 858px\" class=\"wp-caption alignnone\"><img loading=\"lazy\" decoding=\"async\" class=\"wp-image-289590 size-post-thumbnail-858xAUTO\" src=\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2023\/09\/blumenthal-858x700.jpg\" alt=\"Connecticut Senator Richard Blumenthal \" width=\"858\" height=\"700\" srcset=\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2023\/09\/blumenthal-858x700.jpg 858w, https:\/\/www.casino.org\/news\/wp-content\/uploads\/2023\/09\/blumenthal-430x351.jpg 430w, https:\/\/www.casino.org\/news\/wp-content\/uploads\/2023\/09\/blumenthal.jpg 1024w\" sizes=\"(max-width: 858px) 100vw, 858px\" \/><figcaption  id=\"caption-attachment-289590\"class=\"text-description\">Connecticut Senator Richard Blumenthal is stepping up his investigation into the LIV Golf merger with the PGA Tour. Blumenthal has subpoenaed a U.S. subsidiary of the Saudi Arabian Public Investment Fund, which he alleges is not cooperating with his probe. (File photo by USDA via Creative Commons)<\/figcaption><\/figure>\n<p>Sen. Richard Blumenthal &#8212; a Connecticut Democrat who chairs the Senate\u2019s Permanent Subcommittee on Investigations &#8212; issued a subpoena Wednesday. His target is the U.S. subsidiary of the Saudi Arabian Public Investment Fund, which owns the upstart LIV Golf tour.<\/p>\n<p>The subpoena comes as part of an <a href=\"https:\/\/www.casino.org\/news\/senator-launches-investigation-of-pga-liv-merger\/\">ongoing investigation<\/a> by the Connecticut Democrat into the Saudi government\u2019s efforts to cover up its record of human rights abuses. The Saudis hope to improve their reputation by investing in U.S. institutions like the PGA Tour.<\/p>\n<h2><b>Saudi Investments Growing<\/b><\/h2>\n<p>In a <a href=\"https:\/\/www.hsgac.senate.gov\/wp-content\/uploads\/2023-09-13-Chair-Blumenthal-Memo-to-PSI-Members-Regarding-USSA-Subpoena-with-Subpoena-Attachment_Redacted.pdf'\">memo outlining the basis for the subpoena<\/a>, Blumenthal argues that the Saudi government is engaged in a multi-front campaign to increase its influence in the U.S. by acquiring key assets.<\/p>\n<blockquote class=\"main-blockquote\"><p><strong>The Subcommittee\u2019s inquiry thus far has demonstrated that PIF\u2019s planned takeover of professional golf is part of a much larger planned expansion of its investments worldwide,\u201d<\/strong> Blumenthal wrote.<\/p><\/blockquote>\n<p>Since 2015, the investment fund has seen its assets under management grow from $152 billion to $776 billion, and the Saudi government ultimately hopes to have that hit at least $2 trillion by 2030, according to the memo.<\/p>\n<p>The PIF has invested in major U.S. companies, including Meta Platforms, JPMorgan Chase, and Uber, as well as prominent private equity firms, according to the memo. But Blumenthal argues there is a \u201clack of visibility\u201d into how those investments may contribute to broader Saudi influence-peddling efforts.<\/p>\n<h2><b>\u2018Sportswashing\u2019 Allegations<\/b><\/h2>\n<p>The fund could \u201cuse investment to suppress unfavorable narratives about Saudi Arabia,\u201d Blumenthal warns, citing reports that Vice Media removed a documentary critical of Saudi Crown Prince Mohammed bin Salman after merging with a Saudi media company.<\/p>\n<p>Blumenthal also warns that PIF investments can be used to \u201cdistract\u201d from negative stories about Saudi Arabia.<\/p>\n<blockquote class=\"main-blockquote\"><p><strong>PIF\u2019s PGA Tour investment fits in this bucket because it appears to be a classic attempt at a practice known as \u2018sportswashing,\u2019\u201d<\/strong> Blumenthal wrote.<\/p><\/blockquote>\n<p>The subpoena targets the PIF\u2019s wholly-owned U.S. affiliate, USSA International LLC, and seeks documents related to the fund\u2019s involvement with the PGA Tour and other U.S. investments. Blumenthal says the subpoena is necessary after PIF\u00a0 and PIF and its governor, Yasir Al-Rumayyan, have refused to voluntarily cooperate with the subcommittee\u2019s investigation over the past three months.<\/p>\n<p>\u201cThe Saudi\u2019s Public Investment Fund cannot have it both ways: if it wants to engage with the U.S. commercially, it must be subject to U.S. law &amp; oversight,\u201d Blumenthal <a href=\"https:\/\/x.com\/SenBlumenthal\/status\/1702003167863476708?s=20\">wrote on social media<\/a> Wednesday.<\/p>\n<h2><b>Betting Scrutiny\u00a0<\/b><\/h2>\n<p>The subpoena comes amid <a href=\"https:\/\/www.casino.org\/news\/liv-golf-hits-the-us-but-few-states-allow-betting-on-controversial-event\/\">scrutiny of LIV<\/a> by some gambling regulators around the U.S.<\/p>\n<p>Massachusetts banned wagers on LIV events this summer soon after announcing its interest in the PGA.<\/p>\n<p>Earlier this month, a Kentucky Horse Racing Commission member questioned whether the eye-popping sums LIV offered to some of its top golfers undermined the league\u2019s competitive integrity. But regulators included the league in the <a href=\"https:\/\/www.casino.org\/news\/kentucky-sports-betting-options-released-nfl-and-esports-are-in-slap-fighting-is-out-but-what-about-pickleball\/'\">commonwealth\u2019s new betting catalog<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>A U.S. senator is turning up the heat in his probe into the Saudi Arabian government\u2019s involvement in professional golf and the proposed merger between LIV Golf and the PGA Tour. Sen. Richard Blumenthal &#8212; a Connecticut Democrat who chairs the Senate\u2019s Permanent Subcommittee on Investigations &#8212; issued a subpoena Wednesday. His target is the [&hellip;]<\/p>\n","protected":false},"author":102,"featured_media":289590,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[82965,61,13592,1074],"tags":[83245,82336,87976],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v23.1 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>LIV Golf Probe Sees US Senator Subpoena Saudi-Owned Firm - Casino.org<\/title>\n<meta name=\"description\" content=\"A U.S. senator is turning up the heat in his probe into the Saudi Arabian government\u2019s involvement in professional golf and the proposed merger between A U.S. senator is turning up the heat in his probe into the Saudi Arabian government\u2019s involvement in professional golf and the proposed merger between LIV Golf and the PGA Tour.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.casino.org\/news\/senator-subpoenas-saudi-owned-firm-in-liv-probe\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"LIV Golf Probe Sees US Senator Subpoena Saudi-Owned Firm - 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Blumenthal has subpoenaed a U.S. subsidiary of the Saudi Arabian Public Investment Fund, which he alleges is not cooperating with his probe. 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He started as a senior reporter for Casino.org in June 2023 and has covered breaking news regarding legislative and regulatory developments in the Northeast, Midwest, South and Mid-Atlantic. Nick has been a journalist since 2005 and previously wrote for organizations including Politico and the Associated Press. Based in Washington, DC, Nick is an expert on politics and public policy and has covered issues including environmental regulation, energy development and tribal gaming. In his free time, Nick enjoys trying new restaurants and attending concerts around town. He is a fan of all types of games in and out of the casino, from poker to Magic: The Gathering. 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Blumenthal has subpoenaed a U.S. subsidiary of the Saudi Arabian Public Investment Fund, which he alleges is not cooperating with his probe. 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