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.
Tiger Woods and Rory McIlroy are due to be rewarded for their loyalty to the PGA Tour
PGA Tour commissioner Jay Monahan will reportedly give the green light to the payments
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.
The likes of Justin Thomas (left) and Jordan Spieth (right) will pocket a reported $30m
Greg Norman and LIV Golf have succeeded in luring over some of the world’s best players
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.
