DOJ to probe tie-up of PGA Tour with LIV Golf, WSJ reports

The Justice Department has notified the PGA Tour that it will review the Tour’s planned merger with LIV Golf‘s Saudi backers for antitrust concerns, people familiar with the matter told The Wall Street Journal’s Andrew Beaton and Louise Radnofsky. The new probe by the Department of Justice, which had already been investigating the PGA Tour and other leading golf bodies for anticompetitive behavior, “introduces uncertainty to the planned joint venture between the PGA Tour and Saudi Arabia’s Public Investment Fund,” according to the report. Publicly traded golf equipment and apparel makers include Acushnet (GOLF) and Topgolf Callaway (MODG).