156 - LIV Golf and Saudi Money Part 1
LIV Golf has acquired the PGA. So why is a sports merger about to change American politics? And what is Saudi ‘sports washing’?
16 of the last 19 presidents were golfers. 90% of the CEOs from Fortune 500 play golf. And 80% of all executives on the field say golf was essential for establishing their business relationships. Golf is a profoundly influential game, whether you follow it or not. Political deals made on the back nine by judges and politicians will determine the prices of gas, the taxes on cigarettes, and how many missiles the US sells to the middle east. Which is why it’s concerning that golf as a sport has been purchased by a foreign country - one with a history of paying off politicians and meddling in American campaign finances.
In Part 1 of our LIV Golf series, we discuss the inception of a “World Golf Tour” by pro golfer Greg Norman nearly 30 years ago, and why the PGA worked so hard to squash any tour competition, including Norman’s proposed series. Then we’ll talk about the origins of Saudi Arabia’s Public Investment Fund, and why Saudi set its sights on golf in the first place. We’ll also cover (briefly) the payments and gifts the Saudis have given our presidents and politicians, and we’ll learn that pretty much every president who’s held office has been touched by Saudi money or jewels in some way.
Links:
https://www.uscirf.gov/sites/default/files/Saudi%20Guardianship%20Report%20103020_0.pdf
https://www.congress.gov/congressional-record/volume-165/issue-116/house-section/article/H5594-7