Tiger Woods receives 100 million-dollar-worth bonus

Tiger Woods is set to earn one million dollars for not leaving for the LIV Golf financed by the Saudi Arabian capital but staying “loyal” to the PGA Tour.

The Telegraph revealed on Thursday the substantial equity rewards awaiting players who choose to stay in the PGA Tour. Tiger Woods, a paragon of loyalty, is set to receive up to 100 million dollars in equity from PGA Tour Enterprises. World No. 2 Rory McIlroy, another steadfast PGA player, will be presented with 50 million dollars in equity. These significant amounts underscore the financial benefits of remaining in the PGA Tour. PGA Tour Enterprises, a new for-profit entity, has received a staggering three billion dollars from the investment consortium Strategic Sports Group to fund these rewards.

An equity of 930 million dollars in total will be distributed to a total of 193 players in the PGA Tour who are categorized into four groups based on their career, performance of recent five years and the PGA Tour’s PIP (Player Impact Program). Thirty-six players in Group 1 earn 750 million dollars, over 80 percent of the total equity involved. The Telegraph reported that Jordan Spieth and Justin Thomas, both U.S. golfers, are bound to receive 30 million dollars. Earlier, U.S. sports magazine Sports Illustrated expected that Im Sung-Jae, Kim Joo-hyung, and Kim Si-woo of South Korea would belong to Group 1.

For eligible players, the PGA Tour offers a robust financial security plan. Over an eight-year period with multiple checkpoints, players will gradually vest their equity. After four years, they will be vested up to 50 percent, ensuring a steady and secure financial future. However, any transfer to the LIV Golf on this vesting schedule will result in the forfeiture of their equity. This policy, as reported by The Telegraph, would have seen Phil Mickelson rank 2nd in terms of the scale of award grant (behind only Woods) if he had not left for the LIV Golf.


Hong-Gu Kang windup@donga.com