Tiger Woods ‘to receive $100m’ from PGA Tour as confidential payments to Rory McIlroy and Co revealed
Tiger Woods would receive up to $100 million in equity as a reward for his loyalty to the PGA Tour, with Rory McIlroy in line for around $50 million after resisting the lure of LIV Golf.
Strategic Sports Group – a consortium led by Fenway Sports Group, owner of the Red Sox and Liverpool – recently entered into a $1.5 billion investment deal with newly formed PGA Tour Enterprises.
Now, according to The Telegraph, about $1 billion in equity will be shared among 193 golfers, with $750 million reserved for 36 of the world’s best and $75 million given to retired legends.
PGA Tour commissioner Jay Monahan is said to give the green light to the golden handshakes, which will also see Jordan Spieth and Justin Thomas pocket $30 million.
But, according to the Telegraph, Woods and McIlroy will not be able to cash in their capital immediately and then sign with LIV.
Tiger Woods and Rory McIlroy should be rewarded for their loyalty to the PGA Tour
PGA Tour commissioner Jay Monahan reportedly greenlights payments
Instead, in order to keep all the money, players will have to meet certain requirements and stay on the PGA Tour for another eight years.
These payments are of course minimal compared to most of the deals offered by LIV, which recently lured Jon Rahm away from the PGA Tour for $500 million.
Greg Norman has invited McIlroy for talks about a possible defection to LIV Golf, although the Northern Irishman recently dismissed talks of an $850 million U-turn and insisted he would play on the PGA Tour for the rest of his career.
“LIV never made him an offer,” Norman said. “If Rory was willing to sit down and have a conversation with us, would we be happy to sit down with him? 100 percent, no different than any other player who would be interested in coming and playing with us.
McIlroy is ranked No. 2 in the world, but Scottie Scheffler’s dominance over his rivals is such that American cadet Ted Scott would have won more than McIlroy this season.
The likes of Justin Thomas (left) and Jordan Spieth (right) would pocket $30 million.
Greg Norman and LIV Golf have managed to attract some of the best players in the world
These payments, however, are based on several factors, including their achievements during their tour, as well as their performance in the Player Impact program.
This rewards golfers for their commercial impact on the PGA Tour through sponsorship, tickets and other factors.
Woods has reportedly already received $35 million via PIP payments, while McIlroy reportedly earns $30.5 million. Now they deserve even bigger rewards.
At 48, Woods’ 82 victories in nearly three decades dwarf the accomplishments of anyone on the PGA Tour – especially after Phil Mickelson’s defection to LIV.
