A senator from Oregon introduced legislation week that would strip the PGA Tour of its tax-exempt status. Sen. Ron Wyden (D-Ore.), chair of the Senate finance committee, introduced two bills Wednesday, the Sports League Tax-Exempt Status Limitation Act and the Ending Tax Breaks for Massive Sovereign Wealth Funds Act. “Most of America’s big pro sports leagues gave up their tax exemptions voluntarily when their revenues climbed into the stratosphere, and they hadn’t even shamed themselves with Saudi blood money,” Wyden said.
Two top officials of the PGA Tour said the sport’s governing body had no choice but to reach a truce in its yearlong battle with LIV Golf and try to reach a merger with the Saudi-funded tour. The comments came during a contentious Senate hearing Tuesday at which the truce between the PGA Tour and LIV Golf, as well as the Saudi government, were subject of harsh criticism from senators.
Former AT&T chairman Randall Stephenson resigned from the PGA Tour’s policy board over concerns about the tour’s proposed partnership with Saudi Arabia’s national wealth fund, The Washington Post reported. The PGA Tour confirmed the resignation in a memo to its members, referring to Stephenson’s “exemplary service” for more than 12 years.
Opinion: PGA Tour Goes Full Hypocrite In Its Merger With LIV Golf
the PGA Tour and European tour agreed to a merger with Saudi Arabia’s golf interests, creating a commercial operation designed to unify professional golf around the world. As part of the deal, the sides are dropping all lawsuits involving LIV Golf against each other effective immediately.