Tiger Woods’ reported payout from the PGA Tour has been revealed.
As previously shared by AFROTECH™, the PGA Tour announced its $1.5 billion investment from Strategic Sports Group (SSG), which was launched to allow almost 200 PGA Tour members to become “equity holders” in PGA Tour Enterprises. The grants from the new enterprise hinge on career accomplishments, future participation and services, and PGA Tour membership status.
“It was incredibly important for us to create opportunities for the players of today and in the future to be more invested in their organization, both financially and strategically,” Woods and fellow board members Patrick Cantlay, Peter Malnati, Adam Scott, Webb Simpson, and Jordan Spieth shared in a joint statement. “This not only further strengthens the Tour from a business perspective, but it also encourages the players to be fully invested in continuing to deliver–and further enhance–the best in golf to our fans.”
Moreover, during a conference call with PGA Tour members, Woods further spoke about the “true compensation and meritocracy” that the equity will bring, making things align with the impact of golf for decades.
“As has been described earlier, as the Tour grows, we grow,” said Woods. “So the more we invest into the Tour, the more we get the benefits of it. Which has never been — it’s never happened in sports history. So we’re the first. Exciting for me to be able to be part of that.”
Now, according to The Telegraph, Woods is set to reportedly receive $100 million from PGA Tour Enterprises. What’s more, fellow golf star Rory McIlroy is expected to earn $50 million.
The outlet details that for the golfers’ expected money, following four years, 50% of their equity will be vested. Then, the remainder will be vested across another four years time.
In the meantime of reportedly receiving $100 million from PGA Tour Enterprises, Woods has been working behind TGL with McIlroy. As previously reported by AFROTECH™, TGL is a tech-infused golf league that features a virtual course. Serena Williams, Venus Williams, as well as Giannis, Thanasis, Kostas, and Alex Antetokounmpo are owners of TGL’s Los Angeles Golf Club.
