As Sen. Richard Blumenthal delivered his opening remarks to kick off the Senate Permanent Subcommittee on Investigations’ nearly three-hour hearing with two representatives of the PGA Tour, the Senator from Connecticut wondered aloud the amount of the Saudi Public Investment Fund’s cash investment in its proposed for-profit entity with the Tour.
“We still don’t know how much money is on the table or was even discussed to prompt the PGA Tour to make this sudden, dramatic reversal,” Blumenthal said, noting how the Tour pivoted from fighting the Saudi-backed LIV Golf in court to partnering with the PIF.
Later in the hearing, Blumenthal received some clarity to his inquiry.