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☆ Despite 'doom and gloom' reports, 64% of C-suite leaders plan to hire more as a result of generative A.I.
▼ + stars: | 2023-06-27 | by ( Gili Malinsky | ) www.cnbc.com time to read: +1 min

Headlines have been ablaze about the proliferation of generative AI tools like ChatGPT, many predicting the new tech will replace workers in various fields. As many as 300 million jobs worldwide could be affected, according to a recent Goldman Sachs report. But it turns out many in the C-suite have other plans. A majority, 64% of C-suite leaders say they will hire more workers as a result of generative AI, according to a new study of 1,400 U.S. business leaders by work marketplace Upwork. Here's why experts believe generative AI isn't replacing millions of workers anytime soon.

Persons: Goldman Sachs, Kelly Monahan

Golf’s big deal — a planned partnership between the PGA Tour and Saudi Arabia’s sovereign wealth fund — is not how big deals are ordinarily done. There were almost no outside bankers or lawyers involved in negotiations that led to a five-page framework agreement, and only so much input from the PGA Tour board. The plan that would, as the PGA Tour commissioner, Jay Monahan, put it, “take the competitor off of the board” came as the tour faced a Justice Department investigation over antitrust matters. “The fact that they were willing to publicly announce it does mean that the parties are pretty committed to doing something,” Sreepada said. “But I guess that leaves us with a question of who holds the leverage at this point?

Persons: Jay Monahan, “, ”, Suni Sreepada, ” Sreepada Organizations: PGA Tour, Saudi, Justice Department, & Gray

☆ Here's how a merger between PGA Tour and LIV Golf would be structured
▼ + stars: | 2023-06-27 | by ( Lillian Rizzo | ) www.cnbc.com time to read: +4 min

In a five-page agreement obtained by CNBC, the parties — the PGA Tour, the Saudi Arabia Public Investment Fund and Europe's DP World Tour — agreed to create a for-profit subsidiary of the PGA Tour. The new entity will manage commercial assets for all of the tours, while the PGA Tour will manage competitions. The tentative merger agreement was signed by PGA Tour Commissioner Jay Monahan, DP World Tour CEO Keith Pelley and PIF's Yasir al-Rumayyan. The lawsuits came after multiple high-profile players including Phil Mickelson left the PGA Tour for LIV. The PGA Tour has said its executives would testify at the hearing, although it is unclear if Monahan will be present.

Persons: LIV, —, Muhammed bin Salman, Jay Monahan, Keith Pelley, PIF's Yasir al, LIV Golf, Phil Mickelson, " Monahan, Sen, Richard Blumenthal, Ron Johnson, Monahan Organizations: PGA Tour, CNBC, Saudi Arabia Public Investment Fund, Tour, Public Investment Fund, PGA, Senate Homeland Security Locations: Saudi, United States

☆ Framework of PGA Tour-LIV golf deal released
▼ + stars: | 2023-06-27 | by ( ) www.reuters.com time to read: +2 min

[1/2] May 25, 2023; Washington, DC, USA; Patrick Reed hits his tee shot on the ninth hole during the Pro-Am tournament as part of the LIV Golf Washington D.C. 2023 event at Trump National Golf Club outside Washington DC. The PGA Tour will have a permanent controlling interest in the subsidiary's board of directors, regardless of the Saudi investment, the framework says. The framework agreement also ends litigation between the two sides. The framework is likely to be a focus of a U.S. Senate panel on July 11 where Monahan, Al-Rumayyan and LIV Golf CEO Greg Norman have been invited to testify. He also wanted to know how any newly formed entity will be structured and operated, including how the PGA Tour intends to preserve its tax-exempt status.

Persons: Patrick Reed, Geoff Burke, LIV Golf, LIV, Yasir Al, Jay Monahan, Monahan, Greg Norman, Richard Blumenthal, Blumenthal, Chris Sanders, David Shepardson, Peter Rutherford Organizations: LIV Golf, Trump National Golf Club, Washington DC, USA, WASHINGTON, PGA Tour, Reuters, Saudi Arabia Public Investment Fund, Saudi Arabia's Public Investment, U.S, Senate, PGA, Saudi, Investigations, Thomson Locations: Washington, DC, USA, LIV Golf Washington, Saudi, Al, Washington . U.S

PGA Tour logo during the third round of the Travelers Championship on June 24, 2017, at TPC River Highlands in Cromwell, Connecticut. Key lawmakers on Wednesday invited the officials behind the proposed deal between the PGA Tour and Saudi-backed rival LIV Golf to testify at a Senate subcommittee hearing. Blumenthal, D-Conn., and Johnson, R-Wisc., requested testimony from the tour's commissioner, Jay Monahan, LIV Golf CEO Greg Norman and Yasir al-Rumayyan of the Saudi Arabia Public Investment Fund. "Fans, the players, and concerned citizens have many questions about the planned agreement between the PGA Tour and LIV Golf," Johnson said in a release. Blumenthal has expressed a particular interest in whether the PGA Tour deserves to keep its tax exempt nonprofit status as a business association that benefits its members.

Persons: LIV Golf, Sen, Richard Blumenthal, Ron Johnson, Blumenthal, Conn, Johnson, Jay Monahan, LIV, Greg Norman, Yasir al, Monahan, PIF didn't, Norman Organizations: Wednesday, PGA Tour, Senate Homeland Security, Saudi Arabia Public Investment Fund, LIV Golf, PGA, CBS Locations: Cromwell , Connecticut, Saudi, United States

☆ US Senate panel invites PGA Tour commissioner, LIV CEO to testify on merger
▼ + stars: | 2023-06-21 | by ( David Shepardson | ) www.reuters.com time to read: +2 min

REUTERS/Nick Lachance/File PhotoWASHINGTON, June 21 (Reuters) - A U.S. Senate panel on Wednesday invited PGA Tour Commissioner Jay Monahan, Saudi Arabia's Public Investment Fund Governor Yasir al-Rumayyan and LIV Golf CEO Greg Norman to testify at a July 11 hearing. The Justice department has been investigating the PGA Tour for trying to keep its players from defecting to LIV. The PGA Tour, DP World Tour and rival Saudi-backed LIV circuit, which had been involved in a bitter fight that split the sport, announced an agreement to merge and form one unified commercial entity. The LIV Golf series is bankrolled by the Saudi Arabia Public Investment Fund (PIV). The PGA Tour and LIV did not immediately respond to requests for comment on Wednesday.

Persons: LIV, Nick Lachance, Jay Monahan, Yasir al, Greg Norman, Richard Blumenthal, Ron Johnson, Blumenthal, Elizabeth Warren, Ron Wyden, LIV Golf, Critics, Jamal Khashoggi, David Shepardson, Mark Porter, Bill Berkrot Organizations: Canadian, PGA Tour, Oakdale, Country Club, REUTERS, WASHINGTON, U.S, Senate, Wednesday, Saudi, Public Investment, Investigations, PGA, Saudi Public Investment Fund, Justice Department, Saudi Arabia Public Investment Fund, Washington Post, Thomson Locations: Saudi, Toronto , Ontario, Canada, Saudi Arabian

PGA TOUR logo is seen during the second round of the Farmers Insurance Open at Torrey Pines South on January 29, 2021 in San Diego, California. The Justice Department's Antitrust Division has informed the PGA Tour it will review the organization's proposed merger with Saudi-funded LIV Golf, a source told NBC News on Thursday. The Justice Department and LIV Golf declined to comment. The PGA Tour policy board will have to approve the agreement, Monahan told players in a memo. The PGA Tour revealed Tuesday that Monahan is currently recovering from an unspecified medical matter and is taking a leave of absence.

Persons: LIV, LIV Golf, Democratic Sens, Elizabeth Warren of, Ron Wyden, Sen, Richard Blumenthal, Conn, Wyden, Saudi Arabia's Crown Prince Mohammed bin Salman, LIV dangled, Donald Trump, Jay Monahan, Monahan Organizations: Farmers Insurance, Torrey Pines, Department's Antitrust, PGA, Saudi, NBC, Justice, LIV, CNBC, PGA Tour, Democratic, Oregon, DOJ, Investment Fund, Saudi Arabia's Crown, Tour Locations: San Diego , California, Elizabeth Warren of Massachusetts, New Jersey

☆ US Open: How to watch first golf major since shock PGA Tour and LIV Golf partnership
▼ + stars: | 2023-06-15 | by ( Jack Bantock | ) edition.cnn.com time to read: +6 min

It’s also the first major since the golfing world was rocked by the announcement of a partnership between the PGA Tour, DP World Tour, and LIV Golf earlier this month. 2 Jon Rahm spoke of the “betrayal” felt by PGA Tour players following the “bombshell” announcement, expressing his discomfort at the perceived lack of clarity and unanswered questions surrounding the deal. However, one of the partnership’s primary architects, PGA Tour commissioner Jay Monahan, was not on site to respond as he recuperates from a medical situation. Monahan has been relieved of day-to-day duties while he recovers, the PGA Tour announced Tuesday. After a second PGA Tour victory at the RBC Heritage in April earlier this year, the world No.

Persons: CNN —, It’s, LIV, Jon Rahm, ”, Jay Monahan, Monahan, Matt Fitzpatrick, Brooks Koepka, Scottie Scheffler, Will Zalatoris, Koepka, Rahm, Rory McIlroy, Tiger Woods, Matt York, Fitzpatrick, Warren Little, ” Fitzpatrick, I’ve, Norway’s Viktor Hovland, Wanamaker, “ There’s, Harry, Jack Nicklaus, Walter Hagen, “ Organizations: CNN, 123rd, Los Angeles Country Club, PGA, USA Network, NBC, Sky Sports, Sheffield, RBC Heritage, Getty, North, Championship Locations: California, Massachusetts, New York, Brookline, Los Angeles, North America

☆ The tightrope CEOs are walking is getting more precarious
▼ + stars: | 2023-06-15 | by ( Josée Rose | ) www.businessinsider.com time to read: +8 min

Practically, it's about so much more — and CEOs these days are being held accountable for more than profits. There's also the notion of social justice — which often sees CEOs encountering criticism when they speak up on culturally sensitive issues, or facing blowback if they stay silent. Brands like Disney, Target , Bud Lite and North Face face consequences for expressing a view, including boycotts, online protests, and threats of violence. It's OK to avoid constantly getting into the fray; instead, pick moments that enforce the company's values. When CEOs do decide to take a public stance, Eber said that their PR teams are there to help.

Persons: Insider's Hasan Chowdhury, aren't, —, There's, George Floyd, Roe, Wade, Karen Eber, Chowdhury, Eber, Richard Hytner, Bud Lite, Insider's Kelsey Vlamis, Bud, influencer Dylan Mulvaney, Heinerscheid, Bud Light's, we're, LIV Golf, Insider's Joe Ciolli, LIV, Jay Monahan, Monahan, I've Organizations: Service, Pride, Saatchi, Saatchi's, CNN, Street, Brands, Disney, Target, Anheuser, Busch InBev, PGA, LIV, Wall Street, PGA Tour Locations: It's, Europe, Middle East, Africa, Saudi, Saudi Arabia

☆ Our Golf Reporter Didn’t See the PGA Tour-LIV Golf Deal Coming, Either
▼ + stars: | 2023-06-15 | by ( Sarah Bahr | ) www.nytimes.com time to read: +2 min

The most significant factor is that the PGA Tour was under increasing financial strain. Its supporters are insistent that they still control the game of golf, that they are the majority stakeholder in this endeavor. The PGA Tour is saying that it still has control over all the competition and play. Could you see some elements of LIV borrowed and integrated into the PGA Tour? The PGA Tour is trying to appeal to a younger audience and broaden the appeal of the game.

Persons: LIV, Jay Monahan, Yasir al, We’re Organizations: PGA, Tour Locations: Saudi

☆ PGA Tour Commissioner Recovering From ‘Medical Situation’ at a Tense Moment for Golf
▼ + stars: | 2023-06-14 | by ( Andrew Beaton | Louise Radnofsky | ) www.wsj.com time to read: 1 min

This copy is for your personal, non-commercial use only. Distribution and use of this material are governed by our Subscriber Agreement and by copyright law. For non-personal use or to order multiple copies, please contact Dow Jones Reprints at 1-800-843-0008 or visit www.djreprints.com. https://www.wsj.com/sports/golf/jay-monahan-pga-tour-liv-golf-medical-situation-5f1c5391

Persons: Dow Jones

☆ Senate Democrats press for Justice Department inquiry into PGA Tour-LIV Golf merger
▼ + stars: | 2023-06-14 | by ( Chelsey Cox | ) www.cnbc.com time to read: +4 min

WASHINGTON — Two top Senate Democrats with a track record of scrutinizing business and antitrust activity have called for a Justice Department investigation into the merger agreement between the PGA Tour and Saudi-funded LIV Golf. The letter follows Connecticut Democratic Sen. Richard Blumenthal's inquiries to PGA Tour Commissioner Jay Monahan and LIV Golf CEO Greg Norman for details on the merger. The PGA Tour also insists the deal isn't a merger and that Saudi Arabia's Public Investment Fund will be a minority investor. The deal between the PGA Tour and LIV Golf would put an end to pending antitrust litigation between the two golf organizations. Family members of 9/11 victims have protested the Saudi golf league due to the terrorists' ties to the country.

Persons: Elizabeth Warren, Ron Wyden, LIV, Elizabeth Warren of, General Merrick Garland, Jonathan Kanter, Connecticut Democratic Sen, Richard Blumenthal's, Jay Monahan, Greg Norman, Monahan, LIV Golf, DOJ didn't, Yasir Al, Rumayyan, LIV Golf's, Osama Bin Laden, Prince Mohammed bin Salman, Jamal Khashoggi, Warren, Wyden, –, Jessica Golden Organizations: U.S, Capitol, WASHINGTON —, Democrats, Justice Department, PGA Tour, Saudi, LIV Golf, Oregon, Connecticut Democratic, Saudi Arabia's Public Investment Fund, DOJ, CNBC, PGA, Public Investment Fund, Washington Post, Senate Banking Committee, Finance Locations: Sens, Washington , DC, Elizabeth Warren of Massachusetts, U.S, Saudi, Saudi Arabia

☆ Pros Won’t Be Hitting Golf Balls This Far Forever, Whether They Like It or Not
▼ + stars: | 2023-06-14 | by ( Alan Blinder | Kevin Draper | ) www.nytimes.com time to read: +2 min

is also concerned about the millions of golfers who are not professionals and neither he nor Perpall indicated plans for a wholesale surrender. The announcement that Monahan had stepped back followed seven days of turmoil in professional golf. Monahan, who helped to negotiate the deal, was criticized as a cash-hungry hypocrite, but he has retained at least some crucial allies inside the tour. “Jay is a human being,” Webb Simpson, the 2012 U.S. Open winner and a member of the tour’s board, said in an interview on Wednesday. “Golf is a game, and oftentimes, we make golf into something so much bigger than it is and we dehumanize people.” Perhaps, he said, Tuesday’s announcement would give “people a little perspective.”

Persons: Mike Whan, ’, Perpall, ” Whan, “, Jay Monahan, Ron Price, Tyler Dennis, Monahan, “ Jay, ” Webb Simpson, ” Organizations: PGA Tour, U.S, LIV Golf Locations: Saudi

☆ PGA Tour Commissioner Monahan recuperating after 'medical situation'
▼ + stars: | 2023-06-14 | by ( ) www.reuters.com time to read: +2 min

June 13 (Reuters) - PGA Tour Commissioner Jay Monahan is recovering from a "medical situation", the U.S.-based circuit said on Tuesday. A joint statement by Monahan and the PGA Tour Policy Board said day-to-day operations will be led by Tour executives Ron Price and Tyler Dennis during Monahan's absence. The news comes after a tumultuous week in the sport with the PGA Tour announcing a shock merger with the rival Saudi-backed LIV Golf. "The Board fully supports Jay and appreciates everyone respecting his privacy," the PGA Tour said in a statement. Monahan, 53, is the fourth commissioner in the history of the PGA Tour.

Persons: Jay Monahan, Monahan, Ron Price, Tyler Dennis, LIV Golf, Jay, LIV, Tim Finchem, Price, Dennis, Frank Pingue, Hritika Sharma, Peter Rutherford Organizations: PGA Tour, Saudi Public Investment Fund, PGA, U.S, United, LIV, Players, Thomson Locations: U.S, Saudi, United States, Saudi Arabia, Toronto, Hyderabad

PGA Tour Commissioner Jay Monahan is taking a leave of absence as he recuperates from a medical condition, the organization said in a statement late Tuesday, just days after the tour announced a deal to merge business interests with the Saudi-backed LIV Golf league. "Jay Monahan informed the PGA Tour Policy Board that he is recuperating from a medical situation," the tour said in a statement. The tour did not specify the nature of his medical condition nor a timetable to return. The PGA Tour and LIV Golf announced last week their decision to merge business operations to create a new golf entity with money from Saudi Arabia's Public Investment Fund. In a statement Wednesday, the PIF said it was informed of Monahan's medical situation and that it wishes him a speedy recovery.

Persons: Jay Monahan, LIV, Jay, LIV Golf, Ron Rice, Tyler Dennis Organizations: LIV Golf, PGA Tour, Board, Saudi Arabia's Public Investment Fund, PGA Locations: Saudi

☆ PGA Tour players may look to hire own bankers to advise on LIV Golf deal: Faber
▼ + stars: | 2023-06-14 | by ( David Faber | ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailPGA Tour players may look to hire own bankers to advise on LIV Golf deal: FaberCNBC's David Faber reports on the news that PGA Tour Commissioner Jay Monahan will be taking medical leave for an unspecified amount of time. The development comes days after the tour announced a deal with onetime rival LIV Golf, which is backed by Saudi Arabia's investment fund.

Persons: Faber CNBC's David Faber, Jay Monahan, LIV Golf Organizations: LIV Locations: Saudi

☆ Jon Rahm says members of PGA Tour feel ‘betrayal’ after partnership with LIV Golf
▼ + stars: | 2023-06-14 | by ( Ben Morse | ) edition.cnn.com time to read: +5 min

2 Jon Rahm has said “a lot” of players on the PGA Tour feel “betrayal” after the shock announcement of its partnership with LIV Golf. The decisions of some players to leave the established PGA Tour and DP World Tour to sign up with LIV Golf last year were met with consternation by many others. Now, with the two sides uniting once again, it opens questions about LIV Golf players’ eligibility for this year’s Ryder Cup which begins in September. Rahm has been a strong advocate of allowing LIV Golf players to be allowed to compete in the biennial tournament. However, players who left to join LIV Golf resigned their DP World Tour membership to do so.

Persons: Jon Rahm, LIV Golf, ”, “, “ It’s, that’s, Jay Monahan, LIV Golf’s, –, Rahm, It’s, Kelley I’m, Scottie Scheffler, don’t, Scheffler, I’m, There’s, ” Rahm, Richard Heathcote, LIV, Keith Pelley, Team Europe’s, Rahm’s, Sergio Garcia, Garcia, Luke Donald, Luke Organizations: CNN, Tour, Rahm, Los Angeles Country Club, Senate, PGA, Saudi Arabia’s Public Investment Fund, Getty, LIV Golf, Team Europe, Reuters, Team, US Ryder, America Locations: California, Europe

☆ US Senate opens investigation into new partnership between PGA Tour and LIV Golf
▼ + stars: | 2023-06-13 | by ( Matt Foster | ) edition.cnn.com time to read: +4 min

CNN —The US Senate opened an investigation into the proposed merger between the PGA Tour and LIV Golf’s owners, Saudi Arabia’s Public Investment Fund (PIF), on Monday. The letter to the PGA Tour is addressed to its commissioner, Jay Monahan, while chief executive Greg Norman received the letter to LIV Golf. Both the PGA Tour and LIV Golf have until June 26 to hand over the requested documentation, per the letters. Brooks Koepka putts on the 18th green during a LIV Golf event on October 30, 2022. “I think the commissioner has been so discredited that he can hardly present a credible voice for [the PGA Tour].

Persons: LIV Golf’s, Democratic Sen, Richard Blumenthal, LIV Golf, Jay Monahan, Greg Norman, “, ”, LIV, Brooks Koepka putts, Eric Espada, Blumenthal, Ron Wyden, “ I’m, ” Blumenthal, Monahan, ” Sen, Chris Murphy Organizations: CNN, Senate, PGA, Saudi, Public Investment Fund, Democratic, Investigations, PGA Tour, Tour, Justice Department, of Justice Locations: American

☆ Senator opens investigation into PGA Tour merger with Saudi-backed LIV Golf
▼ + stars: | 2023-06-12 | by ( Chelsey Cox | ) www.cnbc.com time to read: +2 min

PGA Tour logo during the third round of the Travelers Championship on June 24, 2017, at TPC River Highlands in Cromwell, Connecticut. WASHINGTON — A top Democratic lawmaker launched a probe on Monday into the planned merger of the PGA Tour and Saudi-backed LIV Golf. The agreement will require the approval of the PGA Tour policy board, according to a memo to players from Monahan. LIV Golf declined to comment on Blumenthal's letters. PGA Tour did not immediately respond to request for comment.

Persons: LIV Golf, Sen, Richard Blumenthal, Conn, Jay Monahan, LIV, Greg Norman, Blumenthal, Jamal Khashoggi, Monahan, CNBC's Organizations: WASHINGTON —, Democratic, PGA Tour, Saudi, Washington Post, Investigations, Private Investment Fund Locations: Cromwell , Connecticut, WASHINGTON, Saudi, American

☆ LIV Golf’s al-Rumayyan and the PGA Tour’s Monahan Make Strange Bedfellows
▼ + stars: | 2023-06-12 | by ( John Branch | ) www.nytimes.com time to read: +1 min

After more than a year of high-stakes jockeying and long-distance accusations, Jay Monahan and Yasir al-Rumayyan finally met in May, an arranged blind date in some Venice cafe or hotel. The 53-year-olds in charge could not be more different: Monahan, the American commissioner of the PGA Tour since 2017, and al-Rumayyan, the trusted confidant of Saudi Arabia’s Crown Prince Mohammed bin Salman and overseer of his country’s massive Public Investment Fund. It is that fund, claiming to be worth somewhere close to $700 billion, that bought its way into golf last Tuesday. It ended a sniping, court-complicated fight between the PGA’s American and European tours and the Saudi-backed LIV Golf tour. It instantly solved the PGA Tour’s financial struggles.

Persons: Jay Monahan, Yasir al, Rumayyan, bedfellows, Monahan, Saudi Arabia’s Crown Prince Mohammed bin Salman, LIV Organizations: PGA, Saudi Arabia’s Crown, Public Investment Fund Locations: Venice, Saudi

The field of players teeing it off on Thursday is unchanged since the USGA previously said that, like the three other majors, it would allow both PGA Tour and LIV golfers to compete. But the feuds that broke out between golfers from the rival leagues is unlikely to be patched up so quickly. Broadcasters hope viewers will be able to put the drama of the new deal to the side and focus on the tournament. "Not to be too Pollyannaish about the whole thing, but we're right in the middle of Hollywood so let's write a good Hollywood script," NBC commentator Dan Hicks said. Reporting by Rory Carroll in Los Angeles Editing by Christian RadnedgeOur Standards: The Thomson Reuters Trust Principles.

Persons: LIV Golf, Jay Monahan, LIV, Gene Sykes, LACC, Scottie Scheffler, Jon Rahm, Rory McIlroy, Sykes, Dan Hicks, Rory Carroll, Christian Radnedge Organizations: country's Public Investment Fund, Los Angeles Country Club, Reuters, USGA, Broadcasters, Hollywood, NBC, Thomson Locations: ANGELES, Saudi Arabia, LA, U.S, Saudi, Los Angeles

☆ PGA Tour commissioner says Tour ‘couldn’t afford to keep battling Saudi Arabia,’ Wall Street Journal reports
▼ + stars: | 2023-06-11 | by ( Jacob Lev | ) edition.cnn.com time to read: +1 min

CNN —PGA Tour commissioner Jay Monahan told employees in a meeting on Thursday that it couldn’t “conduct a lengthy spending war against Saudi Arabia,” according to a report from The Wall Street Journal. “We cannot compete with a foreign government with unlimited money,” Monahan told employees, according to the Wall Street Journal. According to the Journal, Monahan told employees that the Tour had already spent $50 million in legal fees and had dipped into its reserves for $100 million to help pay increased purses in elevated events and other bonuses to players. “To characterize this agreement was made due to litigation costs and other use of reserves is an oversimplification,” a PGA Tour spokesperson told CNN on Saturday. “The PGA TOUR has never been a more valuable property and the Public Investment Fund (PIF) has recognized that value and the opportunity for ROI with their investment in the TOUR.”“Additionally, this transaction will make professional golf more competitive with other professional sports and sports leagues,” the Tour continued.

Persons: Jay Monahan, Monahan, ” Monahan, LIV, ” Organizations: CNN, PGA, Wall Street, PGA Tour, Saudi Arabia’s Public Investment Fund, Public Investment Fund Locations: Saudi Arabia, Ponte Vedra Beach , Florida, Saudi

Jay Monahan, the PGA Tour commissioner, had gone unnoticed in Venice last month. He was in town for the same wedding that had brought al-Rumayyan to Venice. If the motor sports executive spotted the PGA Tour’s leader, he would assuredly connect the presences of Monahan and al-Rumayyan, and golf’s greatest secret might get out. The civil war that had disrupted and defined the once genteel sport — for example, Monahan once publicly asked whether PGA Tour players had ever felt compelled to apologize for competing on the circuit — was abruptly suspended. The tour’s reputation was stained and many of its loyalists were furious, but its coffers were poised to overflow.

Persons: Jay Monahan, Yasir al, LIV, Stefano Domenicali, Monahan, Domenicali, — Organizations: PGA Tour, PGA, LIV Golf Locations: Venice, Italy, Saudi

☆ From ‘Pariah’ to Partner, Saudi Leader Defies Threats to Isolate Him
▼ + stars: | 2023-06-10 | by ( Ben Hubbard | ) www.nytimes.com time to read: +1 min

President Biden vowed during his quest for the White House to make the Saudi crown prince, Mohammed bin Salman, a “pariah” over the killing and dismemberment of a dissident. He threatened the prince again last fall with “consequences” for defying American wishes on oil policy. Mr. Biden, visiting Saudi Arabia last year, fist bumped Prince Mohammed when they met and regularly dispatches officials to see him — including his secretary of state, Antony J. Blinken, this past week. Senator Graham grinned next to the prince — known by his initials M.B.S. — during a visit to Saudi Arabia in April.

Persons: Biden, Mohammed bin Salman, Lindsey Graham, Prince Mohammed, “, Jay Monahan, —, Antony J, Graham grinned, Monahan, LIV, ”, Abdullah Alaoudh Organizations: White, Republican, PGA Tour, PGA, LIV Golf, Freedom Initiative Locations: Saudi, Saudi Arabia, Washington

☆ PGA Tour commissioner reportedly tells employees the reason for LIV Golf merger: 'We cannot compete with a foreign government with unlimited money'
▼ + stars: | 2023-06-10 | by ( Kaja Whitehouse | ) www.businessinsider.com time to read: +3 min

PGA Tour Commissioner Jay Monahan spoke to employees about the merger with LIV Golf, WSJ reported. He reportedly suggested the cost of battling LIV Golf in court and on the green was unsustainable. "The PGA TOUR has never been a more valuable property," which the merger recognized via an investment, she added. PGA Tour announced the merger after a tough year of battling LIV Golf in court and on the green. PGA Tour players who have joined LIV include Phil Mickelson and Bubba Watson.

Persons: Jay Monahan, LIV Golf, —, Joe Monahan, Monahan, LIV, Prince Mohammed bin Salman, Bertrand Guay, Phil Mickelson, Ben Jared, Bubba Watson Organizations: LIV, Saudi, Service, PGA Tour, Street, Getty, Saudi Public Investment Fund, PGA Locations: Ponte Vedra Beach , Florida, AFP, Saudi

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