Tiger Woods and Rory McIlroy, two of the biggest names in golf, are reportedly set to receive huge bonuses for staying loyal to the PGA Tour and rejecting the lucrative offers of the rival LIV Golf series. According to a report in The Telegraph, Woods could receive a staggering £80 million bonus, while McIlroy could get up to £40 million. The bonuses are part of a £1.2 billion investment by Strategic Sports Group into PGA Tour Enterprises, a consortium of US investors led by Fenway Sports Group, the owners of Premier League club Liverpool. Around two-thirds of the investment will be split as equity to 193 golfers, but the top 36 players, as judged by the circuit, will share a further £601 million, with Woods and McIlroy expected to receive the largest sums. The bonuses will be based on a number of factors, including career points, which are awarded for achievements since they started competing on Tour, and performance in the Player Impact Program (PIP), which rewards players who have the biggest impact on the Tour’s business, such as ticket sales, sponsorships, media consumption, and fan engagement. Woods has already pocketed £28 million in PIP payments, while McIlroy has earned £24.4 million. However, it is Woods, who has won 82 Tour titles, who is expected to receive the biggest bonus by far, with his payout likely to be nearly double that of anyone else. McIlroy will be second due to his three victories in the FedEx Cup, while Jordan Spieth and Justin Thomas are also expected to receive significant bonuses. To prevent the players from cashing in their bonuses and then immediately jumping ship to LIV Golf, the money will be paid in equity units, with 50% vesting after four years, another 25% two years later, and the final 25% two years after that. The next 64 players on Tour will then have £60 million between them, with a further £24 million shared among 57 players and another £60 million shared out between 36 retired ‘living legends’. The news of the bonuses is a major boost for the PGA Tour, which has been facing increasing competition from LIV Golf, which has lured away a number of top players with its huge purses. Woods and McIlroy have been vocal critics of LIV Golf, and their decision to stay with the PGA Tour is a significant blow to the rival series.
Tiger Woods and Rory McIlroy to Receive Multi-Million Dollar Bonuses for Loyalty to PGA Tour
