Reports: Tiger Woods Set To Receive $100m Loyalty Payday From PGA Tour
In a significant development for the world of golf, reports suggest that Tiger Woods stands to receive a staggering $100 million in equity as a testament to his unwavering loyalty to the PGA Tour. This windfall comes as part of a monumental $3 billion injection from the Strategic Sports Group (SSG) into PGA Tour Enterprises,…
In a significant development for the world of golf, reports suggest that Tiger Woods stands to receive a staggering $100 million in equity as a testament to his unwavering loyalty to the PGA Tour. This windfall comes as part of a monumental $3 billion injection from the Strategic Sports Group (SSG) into PGA Tour Enterprises, forming a new for-profit entity.
The infusion of funds sets the stage for 193 players to be rewarded with equity in the esteemed U.S.-based circuit for their steadfast commitment in resisting the allure of LIV Golf. Approximately $1 billion from the fund will be distributed among players on a sliding scale, with PGA Tour commissioner Jay Monahan slated to disclose the specifics to golfers imminently.
Determining who receives what portion hinges on Career Points, a metric gauged by factors such as tenure on the tour, victories, and appearances in the Tour Championship, with players categorized into distinct groups. Additionally, the Player Impact Program (PIP) is factored into the equation.
Topping the Group 1 roster by a substantial margin, Tiger Woods emerges as the prime beneficiary, a testament to his illustrious career spanning back to his PGA Tour debut in 1996. With an unparalleled 82 victories, matching Sam Snead’s record, and consistently ranking highest in the PIP since its inception, Woods has already received $35 million in payments.
With a hefty $750 million allocated to be shared among the 36 players in Group 1, Woods stands poised to potentially double the earnings of his closest contender, Rory McIlroy. Despite McIlroy’s impressive resume boasting 24 PGA Tour titles and three FedEx Cup triumphs, he finds himself trailing behind Woods in this lucrative distribution of equity.
Group 2, comprising 64 players, is set to divide $75 million in equity, while 57 players in Group 3 will share $30 million. The remaining $75 million is earmarked for 36 retired players, whose rankings will still be determined based on Career Points.
Notably, players who departed the PGA Tour for LIV Golf will be excluded from this unprecedented payout, resulting in notable figures such as Phil Mickelson and Jon Rahm missing out on this lucrative opportunity.
In essence, this monumental distribution of equity underscores the PGA Tour’s commitment to rewarding loyalty and honoring the achievements of its esteemed players, with Tiger Woods rightfully positioned at the forefront of this historic payday.
