Professional golfers Tiger Woods and Rory McIlroy are set to receive massive financial bonuses as part of a new PGA Tour initiative aimed at retaining top talent amidst competition from the Saudi-backed LIV Golf League. According to The Telegraph, Woods will receive up to $100 million in equity as part of the newly created for-profit PGA Tour Enterprises, while McIlroy will receive approximately half that amount. The bonuses, which will be officially announced to players this week, are a way of rewarding loyalty and preventing defections to the rival league. Nearly 200 players will receive a stake in the PGA Tour Enterprises, with $750 million going to the top 36 players based on a formula that considers career success and cultural popularity. Notable payouts include $30 million each for Jordan Spieth and Collin Morikawa, while $75 million is targeted for notable retired players. The funds will vest over the next eight years, and players must remain loyal to the PGA Tour to receive the full amount. The PGA Tour also plans to award $100 million per year to players going forward. McIlroy, who is playing in the Zurich Classic of New Orleans this week, said that the bonuses would make players feel validated for their decision to stay with the PGA Tour. He also expressed interest in returning to the PGA Tour’s policy board, pending a vote that could take place this week. The other board members include Spieth, Morikawa, Woods, Justin Thomas, and Billy Horschel. The bonuses are part of a larger effort by the PGA Tour to remain competitive with the LIV Golf League, which has lured away several top players with lucrative financial offers. The PGA Tour has been in merger talks with LIV, but those discussions have been protracted and no clear end is in sight. McIlroy said he believes he could be helpful in the merger process but only if both sides want him involved. He aims to promote compromise and help people see the benefits of unification for the game of golf and the PGA Tour in particular.
The bonuses, which are geared toward making the PGA Tour more attractive to players, have raised some concerns about how the money will be distributed and whether players will receive their fair share. However, the PGA Tour hopes that the bonuses will be enough to keep top talent loyal and secure the PGA Tour’s position as the premier golf league.
