Tiger Woods, PGA

PGA Tour Loyalty Rewarded: Tiger Woods Receives Equity Payout Of $100 Million

After turning down an offer between $700 million to $800 million to play with LIV, the PGA Tour rewarded Woods for staying loyal.

Nearly two years ago, when many professional golfers were lured to the LIV Golf Invitational Series financed by Saudi Arabia’s Public Investment Fund, Tiger Woods resisted the lucrative chance to join them.

Golf.com reported that he rejected an offer between $700 million to $800 million to play with LIV. According to The Telegraph, the PGA Tour awarded him a payday of $100 million for staying loyal to the association.

That loyalty to the PGA Tour was appreciated when Woods reportedly received an email stating he would receive up to $100 million in equity. Fellow golfer Rory McIlroy is allegedly getting $50 million for sticking with them. Strategic Sports Group is responsible for paying the golfers and many others who resisted the temptation to leave the PGA Tour and join LIV. The sports group, comprised of a collective of investors led by Liverpool FC owner Fenway Sports, helped create PGA Tour Enterprises, a new nonprofit organization to which they contributed $3 billion.

Earlier this year, MSN reported that Woods and other PGA Tour players were set to become equity holders in PGA Tour Enterprises. The deal, finalized after months of negotiations, marks a significant moment in sports history as players will now own a share of the PGA Tour, a concept unprecedented in professional sports.

The $3 billion investment from Strategic Sports Group, led by Fenway Sports Group, is a groundbreaking agreement that not only places the value of PGA Tour Enterprises at $12.3 billion but also ushers in a new era for the golf industry. The large amount of equity given to certain players will be based on criteria such as career accomplishments, recent achievements, and Tour status.

The Telegraph reported that the money given to loyal PGA Tour loyalists will be split between 193 golfers, with $750 million earmarked to the 36 superstars the organization picks. It is projected that after McIlroy gets a reported $50 million, the other golfers in for a big payday will be Jordan Spieth and Justin Thomas, who will be given equity worth about $30 million.