Tiger Woods will receive up to $100 million in equity as part of the newly created for-profit PGA Tour Enterprises, with Rory McIlroy getting about half that amount, according to a report.
that Woods will receive up to $100 million in equity as part of the newly created for-profit PGA Tour Enterprises, with McIlroy getting about half that amount.
The payouts, which are set to be disclosed to the players by PGA Tour commissioner Jay Monahan on Wednesday, 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.Nearly 200 players will receive a stake, with $750 million of it going to the top 36 players based on a formula that weighs career success and cultural popularity, according to The Telegraph.
To receive the money, players would have to continue to remain loyal to the PGA Tour, with the funds vesting over the next eight years, according to The Telegraph. And going forward, the PGA Tour plans to award $100 million per year to the players.of up to $3 billion earlier this year from Strategic Sports Group, a consortium of sports owners that includes the
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