Tiger Woods Receives $100 Million Loyalty Payout from PGA Tour

Tiger Woods has received up to $100 million in equity from the PGA Tour for staying loyal to the organization, as revealed in confidential player payouts. The PGA Tour distributed around $1 billion among 193 golfers, with Woods receiving the largest payout as part of a deal facilitated by PGA Tour commissioner Jay Monahan.

The funds were made available after a group of investors led by Fenway Sports infused $1.5 billion into PGA Tour Enterprises. The top 36 players are splitting $750 million, while the next 64 players in the top 100 are dividing $75 million. The remaining $75 million is divided among 36 retired players considered living legends.

Other notable payouts include Rory McIlroy, who is set to receive around $50 million, and Jordan Spieth and Justin Thomas, who each received around $30 million. The compensation is being distributed to PGA Tour golfers as a reward for their loyalty, amid efforts by the rival LIV Golf league to attract experienced and talented players away from the PGA Tour.

Why this matters: The significant payouts highlight the intensifying competition between the PGA Tour and LIV Golf for top talent. The equity stakes aim to incentivize players to remain loyal to the PGA Tour as the battle for the future of professional golf continues.

The equity will be released in stages over the next several years, with players required to meet certain criteria to get the full amount, including continued loyalty to the PGA Tour. "The equity will be vested over time, and the recipients will have to meet certain requirements to maintain their eligibility," a source familiar with the matter stated.

The PGA Tour has also pledged to award $100 million in equity annually going forward, rewarding up-and-coming players as well. The influx of cash comes as the PGA Tour, including Woods, has been in talks with the Saudi government's financial arm about a potential merger with LIV Golf, though the specifics have been kept tight.

Key Takeaways

• Tiger Woods received up to $100M in PGA Tour equity for loyalty.
• PGA Tour distributed $1B among 193 golfers, with Woods getting largest payout.
• Top 36 players split $750M, next 64 split $75M, $75M to 36 retired legends.
• Equity aims to incentivize players to remain loyal to PGA Tour amid LIV Golf rivalry.
• PGA Tour to award $100M in equity annually to reward up-and-coming players.