PGA Tour seeks to add Saudi Arabia’s Public Investment Fund to LIV lawsuit


Lawyers representing the PGA Tour are seeking to add Yasir Osman Al Rumayyan, president of Saudi Arabia’s public investment fund and fund, as a defendant in the tour’s counterclaim against LIV Golf.

In a leave application filed in U.S. District Court for the District of Northern California on Tuesday, a PGA Tour attorney said documents recently drawn up from LIV Golf allege that PIF and Al Rumayyan cause the golfer to breach his contract with the PGA. claimed to have played an active role in Join and tour the LIV golf circuit.

“As set forth in its existing counterclaims, LIV intentionally and willfully induced these players to breach their contractual obligations to the Tour by misrepresenting their Tour contracts. We induced these violations by offering highly lucrative contracts that made it impossible for LIV players to abide by their tour contracts.To compensate LIV players for these violations, extensive indemnification and number billion,” PGA Tour attorneys wrote in the motion. We confirm that we are equally responsible for any damages caused to the TOUR.”

In August, several players suspended from the PGA Tour for playing in an LIV golf tournament without a competing event release filed a federal antitrust lawsuit against the PGA Tour, exploiting exclusivity rights. to stifle competition and discourage broadcasters and other vendors from participating. Partnered with LIV Golf. LIV Golf and its three players are the remaining plaintiffs in this case.

The PGA Tour has filed a counterclaim alleging that LIV Golf interfered with player contracts.

PGA Tour attorneys wrote in Tuesday’s motion that PIF-funded LIV Golf is the end result of a scheme known as Project Wedge. Saudi Arabia’s Vision 2030.” Saudi Arabia’s sovereign wealth funds are reportedly worth $620 billion.

Lawyers for the PGA Tour said the LIV Golf subscription and shareholder agreement, uncovered in December, “demonstrates that the PIF and Mr Al-Rumayyan have full control of the LIV, and that the LIV contract with the player has It was the cornerstone of proving that approval was necessary.” by PIF. ”

“In addition to exercising near-absolute authority over the LIV, the PIF and Al Rumayyan personally recruit tour players, play an active role in contract negotiations, and clearly articulate each player’s contract. Although we have legally approved these transactions, the PGA Tour’s attorneys wrote in the motion that these transactions constitute the player’s tour contract.

“In addition to approving player contracts that promise to indemnify such players for breach of their contractual obligations to the Tour, Mr Al Rumayyan himself has indicated that at least one player will be indebted to him and the PIF for their support. We have gone so far as to provide personal assurances of commitments such players in legal claims by the Tour.”

In an earlier complaint, LIV Golf’s attorneys alleged the PGA Tour exaggerated PIF’s control over the new circuit. Al-Rumayyan said in his affidavit that the fund only provides “high-level oversight” of his LIV.

PIF owns at least 93% of LIV Golf, according to court documents. His former COO and president of LIV Golf, Atul Khosla, told ESPN in October that the circuit, led by two-time Open winner Greg Norman, will be on track during the first season of 2022. He said he spent more than $784 million in operating expenses. December.

PGA Tour attorneys have failed to seek documents from the PIF through discovery and have thus far been unable to remove Al-Rumayyan. The PIF and he believe Al-Rumayyan “have no jurisdiction over them, are exempt from compulsory proceedings, and do not have information or documents related to the case.” and submitted to the court that



Source link

Leave a Reply

%d bloggers like this: