On Friday, the PGA Tour, Saudi Arabia’s Public Investment Fund, and Yasir Al-Rumayyan, the governor of the sovereign wealth fund, jointly submitted a motion to dismiss all legal claims against each other in a federal antitrust lawsuit, with prejudice, as recorded in court documents.
In a legal document filed on Friday in the U.S. District Court for the Northern District of California in San Jose, both parties agreed that LIV Golf, which is being financially supported by the Public Investment Fund (PIG), will voluntarily drop its claims against the tour. In turn, the tour will voluntarily drop its claims against LIV, PIF, and Al-Rumayyan.
The PGA Tour announced on June 6 that it intends to merge with the DP World Tour and PIF to create a new commercial entity that will incorporate their commercial activities, including LIV. As part of the agreement, all parties involved will cease any legal actions against each other, as stated in the official news release.
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As a result of the dismissal with prejudice, both LIV Golf’s antitrust claims and the Tour’s counterclaims of LIV Golf’s interference with player contracts are permanently barred from being filed again.
The U.S. Department of Justice, as well as the Senate Finance Committee and the Senate Permanent Subcommittee on Investigations, have initiated reviews of the proposed alliance, as reported by The Wall Street Journal on Thursday.
