Top Line
A California court on Wednesday ordered the head of Saudi Arabia’s sovereign wealth fund to appear in court as part of a lawsuit brought by the PGA Tour against its Saudi-bankroll rival, LIV Golf, also as lawyers dragged the powerful Saudi entity to court. The Fund argues that its foreign political status should exempt it from specific court proceedings.
Yasir Al-Rumayyan appeared at LIV’s London tournament last June.
important facts
Yasir bin Othman Al-Rumayyan, governor of Saudi Arabia’s Public Investment Fund, has 21 days to respond to the subpoena or the San Francisco federal court will issue a default judgment against him. potential To punish financially
The summons comes a week after a judge approved the PGA Tour’s request to add El-Rumayyan and the Saudi Arabian Public Investment Fund as defendants in its lawsuit against LIV, in a lawsuit against LIV’s tour. In response to the lawsuit, a lawsuit was filed for allegedly breaking federal antitrust. Law in an attempt to cancel LIV in its inaugural 2022 season.
Lawyers representing the PGA Tour presented the summons against Al-Rumayyan to the Saudi delegation’s lawyers on Wednesday filed The motion proposed a stay on the orders requiring the Public Investment Fund and Al-Rumayyn to comply with the court’s requests, claiming the court’s discovery process “would violate Saudi law.”
main background
LIV burst onto the golf scene in 2022, with billions of dollars from a Saudi investment fund helping it sign some of the PGA Tour's most famous golfers. The power struggle between the PGA Tour and the LIV was messy: the established tour barred its members from playing in LIV events, resulting in the suspension of some of its winning golfers, including players who allegedly violated federal law. banned as it sought to maintain its hold. on professional golf. The introduction of Hanging Over Live, which featured high purses and team play, PGA Tour-endorsed several typically popular on-course changes. the allegations LIV being little more than a "sportswashing" vehicle for the Saudi government to improve its image internationally,
big number
over $500 billion. how much the public investment fund has in assets under management, According for its 2021 annual report.
tangent line
LIV Golf's first tournament of 2023 debuted on American television on The CW last weekend. LIV broadcast Average 289,000 viewers on Saturday and Sunday, a fraction of the audience for the PGA Tour's concurrent schedule, although Perry Sook, CEO of CW parent company Nexstar, said he was "thrilled" by the audience size.
PGA TOUR-LIV golf ruling raises chances of resolution (sporty)
Saudi Arabia's PIF calls judge's order a 'violation' of sovereignty (Front Office Sports)
The PGA Fights Saudi Supporters of LIV Golf: Everything You Need to Know About Golf's Worst Controversyforbes,
Credit: www.forbes.com /