Tiger Woods ‘to be paid $100M’ by the PGA Tour

Prominent golfers Tiger Woods, Rory McIlroy, and a couple of others are in line for huge extra payouts in appreciation for their commitment. 

It has been reported by The Telegraph that, while supposedly announcing the formation of profit-based PGA Tour Enterprises. 

Woods has become an equity holder in up to $100 million, and McIlroy will earn just less than half of that amount. 

This comes as a sign of thanks for staying with the PGA Tour instead of defecting to the money-dropping, Saudi Arabia Public Investment Fund-sponsored LIV Golf League, awarded by PGA Tour administrator Jay Monahan to the players. 

The Telegraph indicates that around 200 golfers will receive payouts, including 36 of the top players who have received individual equity grants totaling $750 million for a mix of accomplishments and public advantages. 

Moreover, the checks The Telegraph mentions involve $30 million for Jordan Spieth and Justin Thomas and $75 million for people on the board who are not active as professional golfers.

In order to obtain these extra earnings the members need to stay dedicated to the fund for a certain period. 

Because the equity will be vested over eight years, the PGA Tour Players Fund, in this instance with $100 million will be equally distributed among the players annually. 

Furthermore, the PGA Tour Enterprises previously had a new $3 billion commitment of capital from Strategic Sports Group, a team of professional club owners featured with Steve Cohen of New York Mets and Arthur Blank of Atlanta Falcons.