High-Powered DC Lobbying Firms Engaged as Congressional Probe Continues on LIV Golf and PIF Deal
The ongoing congressional probe into the partnership between LIV Golf and the Saudi Arabia-backed Public Investment Fund (PIF) and the recent retention of a prominent Washington DC lobbying firms, Akin Gump Strauss & Feld, to protect Yasir Al-Rumayyan, the fund’s governor, from potential public testimony.
DC Lobbying Firm Retained in Ongoing Congressional Probe of LIV Golf and PIF Deal
Golf Week USA Today – The ongoing congressional investigation, into LIV Golf and the Public Investment Fund (PIF) backed by Saudi Arabia has taken a twist with the hiring of DC lobbying firm in Washington, Akin Gump Strauss & Feld. This development comes as Yasir Al Rumayyan, the governor of the fund faces growing pressure to testify before the committee. PIF claims that certain aspects of the investigation are protected by immunity making the situation more complex.
During a Senate subcommittee hearing in June in Washington D.C., PGA Tour Chief Operating Officer Ron Price and board member Jimmy Dunne were sworn in to discuss a proposed agreement involving the PGA Tour, DP World Tour and PIF. Senator Richard Blumenthal from Connecticut, who chairs the committee has been openly critical of the deal that aims to bring previously opposing factions within the golf community. This deal has also caught the attention of Akin Gump Strauss & Feld a DC lobbying firm based in Washington.
A representative, from Akin Gump has argued that compelling Al Rumayyan to participate in hearings should not be necessary.
The PGA Tour had already presented a document to the U.S. Senate Permanent Subcommittee, on Investigations, which outlined the structure of the agreement. The document provided insights, into the elements of the deal and emphasized the role played by Akin Gump Strauss & Feld a DC lobbying firm based in Washington.
LIV Golf’s Future and Sponsorship Agreements and the Retention of DC Lobbying Firm
According to Yahoo Sports, the proposed agreement outlines that the future of LIV Golf will be decided by a board mainly controlled by the PGA Tour. It also establishes a “Communications Committee” to help with a transition and coordinate communication, between PIF, LIV and the PGA Tour. Additionally PIF is expected to become a leading sponsor for golf tours like the PGA Tour and DP World Tour while also taking on the role of a title sponsor, for at least one event.
This agreement is a step, towards establishing a golf organization commonly known as “NewCo.”