Tiger Woods to land $100M, PGA Tour equity payments for loyalty, revealed
PGA Tour Enterprises, the newly formed for-profit entity, is prepared to dole out massive sums of money to reward player loyalty amid the LIV Golf discord.
The PGA Tour struck a deal with Strategic Sports Group worth up to $3 billion three months ago. As part of the fundraising efforts, the Tour will disseminate hundreds of millions of dollars to its membership, per The Telegraph.
Tiger Woods, the 15-time major champion, will receive the largest sum upwards of $100 million. Rory McIlroy will net a cool $50 million. Other top players like Jordan Spieth and Justin Thomas will earn $30 million.
The entire payout structure to all players has yet to be made public.
Nearly two thirds of the money infused into the company will be handed out via equity shares. However, a safeguard was put in place to avoid players taking the money and then jumping ship for LIV Golf.
Fifty percent of the money will be vested after four years on Tour. Another 25 percent will be added two years after that and all 100 percent will be vested after eight years.
There are a number of factors that determined a players’ worth.
Chief among them are the ‘career points’ and how players have fared through the Player Impact Program (PIP).
The former is a model that looks at career achievements through the lens of longevity. The latter, which was established a couple of years ago to combat the money thrown by LIV at players, takes into account how an individual has helped promote and grow the sport through ticket sales, sponsorships, media consumption and fan engagement.
Understandably, Woods would top the list. He continues to move the needle. One just needs to look at The Masters less than two weeks ago.
Television ratings were initially up as Woods performed well and made the cut for the 24th consecutive appearance, setting a new PGA Tour record. However, after he faltered to historic lows Saturday, ratings plummeted during the weekend.
The Tiger Woods effect is a problem that the PGA Tour and professional golf is still yet to solve.
However, if a deal is ever reached between LIV and the PGA Tour, bringing the best players together might at least stem the tide.
Kendall Capps is the Senior Editor of SB Nation’s Playing Through. For more golf coverage, follow us @_PlayingThrough on all major social media platforms.
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4 of May 2024
