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The US Senate has now issued a subpoena to the Saudi Arabian PIF over the PGA Tour framework agreement hearing that happened just recently. The Senate is all set to host a second public hearing in wake of the controversial agreement of the PGAT's proposed deal with the PIF.
Issued by Chairman Richard Blumenthal, the subpoena calls upon the Saudi PIF to answer questions about the documents regarding its venture with the PGA Tour. With the PIF refusing the cooperate with the subcommittee the memorandum, posted by journalist Brenden Quinn on Twitter, read the following:
"This memorandum informs members of the Permanent Subcommittec on Investigations of the basis for a subpoena I have issued to the Saudi Arabian Public Investment Fund's (PIF) wholly. owned United States subsidiary, USSA Interational LLC. for documents related to PIF's takeover of American colons rested investments throtonout the nited States."
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US Senate calls upon PIF governer Yasir Al-Rumayyan to testify in the PGA Tour PIF framework agreement controversy
PIF governer Yasir Al-Rumayyan has also been in the limelight and asked to testify in the hearing, to which he has declined several times. Al-Rumayyan is claimed to be an 'inappropriate witness' in the hearing, since he is a minister in the Saudi Arabian government and is 'bound by the Kingdom’s laws regarding the confidentiality of certain information'.
"Over the past three months, PIF and its Govemor Yasir Al-Rumayyan have repeatedly declined to voluntarily cooperate with the Subcommitte's investigation."
However, Al-Rumayyan made a counter argument during the LIV Golf's lawsuit last year, and is now also being presented with subpoena. With reasons like 'scheduling conflicts', the governer has evaded all hearings that have happened so far.
"The information required is necessary for the Subcommittee to understand the extent of and reasons for PIF's extensive US investments. For these reasons, and the reasons outlined below, the subcommittee has issued a subpoena to PIF's United States subsidiary compelling the production of documents that are necessary for this subcommittee to continue its inquiry."
The PGA Tour and PIF framework agreement came as a shock to many in the golf community, raising concerns in the US about the 'sportswashing' of golf and the PGA Tour.
