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April 25, 2024

Tiger, Rory to get millions for their loyalty

By Alabama Golf News Staff
Tiger Woods

Tiger Woods is set to receive up to $100 million in equity for remaining loyal to the PGA Tour, with Rory McIlroy poised to get around $50 million, according to The Telegraph, a British newspaper.

Tiger Woods and Rory McIlroy are being rewarded for not defecting to the Saudi-backed LIV Golf league, with the payments arriving nearly three months after the PGA Tour announced a $3 billion investment deal with Strategic Sports Group, a consortium led by FenwaSports Group to form PGA Tour Enterprises, reported the SportsPro, website, which quoted the Telegraph article.

Strategic Sports Group is making an initial investment of $1.5 billion, which could increase to up to $3 billion, SportsPro reported.

Now, around $1 billion will reportedly be split between 193 golfers, with $750 million to be divided between 36 of the world’s top players, the Telegraph reported..

SportsPro further reported:

“After the three dozen, the next 64 players will pocket $75 million in equity between them. A further 57 golfers will share US$30 million and $75 million has been allocated for the 36 players considered ‘living legends’ who have retired.

“In each group, a ‘career points’ metric, which awards marks for achievements on tour for however long the players have been competing, will purportedly be the primary decider over how equity is awarded.

“Other determining factors include how players have performed in the Player Impact Program, a bonus pool set up in 2021 to reward golfers who drive fan and sponsor engagement.

“According to The Telegraph, Tiger Woods has already received $35 million in Player Impact Program payments, while Rory McIlroy, who topped last year’s standings, has got $30.5 million from the program.

“The PGA Tour has also pledged to award equity of $100 million on an annual basis going forward, rewarding those who are quickly racking up career points.

“It should be noted that this new payday from the PGA Tour does not mean guaranteed cash for players. Recipients will reportedly be told how many equity units they have been granted and what the fair market value is at this juncture. Players will also not be allowed to cash in immediately and then abruptly sign for LIV Golf.”

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Featured image courtesy of NBC Sports

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