Jon Rahm's LIV Golf Defection Ups Pressure on PGA Tour Deal [BNN Bloomberg (Canada)]
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Source: BNN Bloomberg
work ahead lies in eliminating hurdles to a historic tie-up with the PGA Tour before the year-end deadline. The deal for Rahm, 29, is partly an attempt to highlight how serious Saudi Arabia is in owning a slice of one of the world's most lucrative sports, coming during a crucial time for talks between the PGA Tour, PIF and US authorities, according to people close to the talks. The PGA Tour and PIF must update the US Justice Department on talks before Dec. 31 as it has to examine and approve the deal for the merger to go through, according to people familiar with negotiations who asked not to be identified because of the confidential nature of the discussions. One scenario is that US authorities would receive an updated memorandum of understanding by the end of the year, which would likely open the door for an outside US investor to join the Saudi-based $600 billion Public Investment Fund in backing the merged entity, the people said. “Negotiations toward reaching a Definitive
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