Tiger Woods will reportedly receive up to $100million in equity as a reward for staying loyal to the PGA Tour, with Rory McIlroy said to be in line for around $50million after resisting the lure of LIV Golf.
Strategic Sports Group – a consortium led by Red Sox and Liverpool owners Fenway Sports Group- recently agreed a $1.5billion investment deal with the new PGA Tour Enterprises.
Now, according to The Telegraph, around $1bn of equity will be shared among 193 golfers, with $750million reserved for 36 of the world’s best and $75million given to retired legends.
It’s said that PGA Tour commissioner Jay Monahan will give the green light to the golden handshakes, which will also see the likes of Jordan Spieth and Justin Thomas pocket a reported $30m.
But, according to the Telegraph, the likes of Woods and McIlroy will not be able to cash in their equity immediately and then sign with LIV.
Instead, in order to keep hold of all the money, players will reportedly be required to meet certain requirements – and stay on the PGA Tour for another eight years.
These payouts are, of course, small compared to many of the offers handed out by LIV, who recently lured Jon Rahm away from the PGA Tour for $500m.
Greg Norman has invited McIlroy for discussions over a possible defection to LIV Golf, despite the Northern Irishman recently dismissing talk of an $850m U-Turn and insisting he will play on the PGA Tour for the rest of his career.
‘LIV never put an offer to him,’ 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 per cent, no different than any other player who would be interested in coming on and playing with us.’
McIlroy is ranked No 2 in the world but such is Scottie Scheffler’s dominance over his rivals that the American’s caddie, Ted Scott, is believed to have earned more than McIlroy this season.
These payments, however, are based on several factors including their achievements over their time on the tour, as well as their performance in the Player Impact Program.
That rewards golfers for their business impact on the PGA Tour through sponsorship, tickets and other factors.
Woods has reportedly already received $35m via PIP payments, with McIlroy earning $30.5m. Now they are due even greater rewards.
At 48, Woods’ 82 wins over nearly three decades dwarfs anyone else’s achievements on the PGA Tour – particularly after Phil Mickelson defected to LIV.
The PGA Tour’s equity payouts have caused quite a stir in the golfing world, with Tiger Woods set to receive a whopping $100million for his loyalty to the tour. This is an incredible reward for an incredible career that has spanned nearly three decades and seen Woods secure an impressive 82 wins. The fact that Woods has already earned $35m through the Player Impact Program speaks volumes about his influence on the PGA Tour and the game of golf as a whole.Rory McIlroy, on the other hand, is expected to pocket around $50million for resisting the temptation of LIV Golf and staying true to the PGA Tour. Despite being ranked No 2 in the world, McIlroy’s earnings have been overshadowed by American golfer Scottie Scheffler, whose caddie reportedly earned more than McIlroy this season. This just goes to show the level of competition and financial rewards that are at stake in the world of professional golf.The consortium behind these equity payouts, led by Red Sox and Liverpool owners Fenway Sports Group, recently struck a $1.5billion investment deal with the PGA Tour Enterprises. A staggering $1billion of this investment will be shared among 193 golfers, with a significant portion reserved for the top 36 players in the world. Retired legends of the game will also receive a share of the equity, totaling $75million.It’s no surprise that players like Jordan Spieth and Justin Thomas are set to receive substantial payouts as well, with reports suggesting they could pocket around $30m each. However, these payouts come with a caveat – players must stay on the PGA Tour for another eight years in order to retain their equity. This requirement aims to ensure that players remain committed to the tour and do not jump ship to rival leagues like LIV Golf.Greg Norman’s recent invitation to McIlroy for discussions about a possible move to LIV Golf has added an intriguing twist to the saga. Despite McIlroy’s public declaration of loyalty to the PGA Tour, Norman remains hopeful that the Northern Irishman may be swayed by the prospect of a new challenge and hefty financial rewards. Only time will tell if McIlroy decides to entertain Norman’s offer and potentially shake up the golfing world once again.As the golfing landscape continues to evolve, with new investment deals and lucrative opportunities on the table, fans and players alike are eagerly anticipating what the future holds for the sport. The drama and excitement surrounding these equity payouts only serve to highlight the competitive and dynamic nature of professional golf, where fortunes can change in the blink of an eye. Stay tuned for more updates and insights on the latest developments in the world of golf.
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Source: USA Today
