Tiger Woods ‘to be paid $100M’ by the PGA Tour as confidential payments to Rory McIlroy and Co are revealed
Tiger Woods is reportedly set to receive up to $100 million in equity as a reward for staying true to the PGA Tour, with Rory McIlroy reportedly in line for around $50 million after resisting the temptation of LIV Golf.
Strategic Sports Group – a consortium led by Red Sox and Liverpool owners Fenway Sports Group – recently signed a $1.5 billion investment deal with the new PGA Tour Enterprises.
Now, according to The Telegraphapproximately $1 billion in shares will be distributed 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 be greenlighting the golden handshakes, which will also see Jordan Spieth and Justin Thomas pocket a reported $30 million.
But according to the Telegraph, companies like Woods and McIlroy won’t be able to cash out their shares immediately and then sign with LIV.
Tiger Woods and Rory McIlroy are rewarded for their loyalty to the PGA Tour
PGA Tour commissioner Jay Monahan will reportedly greenlight the payments
Instead, to keep all the money, players will have to meet certain requirements – and stay on the PGA Tour for another eight years.
These payouts are obviously small compared to many of the offers from LIV, which recently lured Jon Rahm away from the PGA Tour for $500 million.
Greg Norman has invited McIlroy to discussions about a possible move to LIV Golf, despite the Northern Irishman recently dismissing rumors of an $850 million U-Turn and insisting he will spend the rest of his career on the PGA Tour will play.
“LIV never made him an offer,” Norman said. “If Rory would be willing to sit down with us and have a conversation, would we be happy to sit down with him? 100 percent, no different than any other player who would be interested in joining us.”
McIlroy is ranked second in the world, but such is Scottie Scheffler’s dominance over his rivals that the American caddy, Ted Scott, has earned more than McIlroy this season.
The likes of Justin Thomas (left) and Jordan Spieth (right) will reportedly pocket $30 million
Greg Norman and LIV Golf have managed to sign some of the best players in the world
However, these payments are based on several factors, including their performance during their time on tour, as well as their performance in the Player Impact Program.
That rewards golfers for their business impact on the PGA Tour through sponsorships, tickets and other factors.
Woods has reportedly already received $35 million through PIP payments, while McIlroy earned $30.5 million. Now they are owed even greater rewards.
At 48, Woods’ 82 wins in nearly three decades dwarf the achievements of anyone else on the PGA Tour – especially after Phil Mickelson defected to LIV.