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Fans have reacted to reports of the Saudi Arabian government threatening their bankers and consultants if they cooperate with US lawmakers in the ongoing investigation involved in the framework agreement between the PGA Tour and Public Investment Fund (PIF).
Bloomberg reported recently that Saudi Arabia has threatened to put its bankers in jail if they cooperate in the investigation. The merger between the PGA Tour and PIF was signed in June last year but was postponed after the US Senate was involved in it for an investigation.
It was supposed to be concluded in December 2023 but was again postponed to a later date. Meanwhile, the PGA Tour signed a $3 billion deal with Sports Strategic Group (SSG) but they are still in conversation with PIF on the potential merger.
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NUCLR Golf posted the following update on its X account about Saudi Arabia's threats against its bankers and consultants regarding the merger, with the caption:
"The Saudi government has threatened to imprison bankers and consultants that it works with if they cooperate with the US Senate’s investigation into the PGA TOUR - PIF deal. (Via@Jordanfabian)."
Fans jumped to the comments section to take a jibe at the PIF.
"Definitely about growing the game," one wrote.
"Good! Keep growing the game, his majesty," another fan commented.
"This is all part of “growing the game," another chimed in.
"I’m shocked. Saudi Arabia always seems so logical and humane," a fan jotted.
Here are a few more fan reactions:
“This represents aberrant behavior for a client"- US lawmakers on PIF's threats
The US lawmakers slammed the non-cooperative behavior of the PIF in the inquiry. They said it represents the "aberrant" behavior of clients.
Speaking about the PIF, the US lawmakers said (via Bloomberg):
"This represents aberrant behavior for a client, and, quite frankly, for the PIF, who has historically been a client that has operated with best practices of governance with us.”
Amidst the allegation, PIF has also released a statement in their defense and said they have made significant efforts to provide the information requested by the US officials.
They released a statement that reads (via Mirror.uk.in):
"We have made, and are continuing to make, significant efforts to facilitate the production of requested information from our advisers consistent with the laws of Saudi Arabia, which should be recognized like those of any other country.”
When the PIF and PGA Tour merger was postponed in December 2023, it was reported to be finalized by the end of March 2024.
Meanwhile, the PGA Tour has successfully signed a $3 billion deal with SSG, which will give their players equity in the newly formed PGA Tour Enterprises.
