Tiger Woods, Rory McIlroy and other PGA Tour stars are about to receive massive bonuses for their loyalty.
The Telegraph reported Wednesday that Woods will receive $100 million in equity as part of the newly created for-profit PGA Tour Enterprises, with McIlroy earning about half that amount.
The payouts are a way to thank players for sticking with the PGA Tour instead of jumping to rival LIV Golf and huge paydays from Saudi Arabia’s Public Investment Fund.
Several hundred players will receive a stake, with most of it going to the top 36 players based on a formula that weighs career success and cultural popularity.
PGA Tour Enterprises received a reported $3 billion investment earlier this year from Strategic Sports Group, a consortium of sports owners that includes the New York Mets’ Steve Cohen and the Atlanta Falcons’ Arthur Blank.
–Field Level Media
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