Report: Tiger Woods Set To Receive $100m Loyalty Payday From PGA Tour
The 15-time Major champion is set to be rewarded handsomely for sticking with the US-based circuit
According to reports, Tiger Woods is in line to receive $100 million in equity for staying loyal to the PGA Tour.
After the Strategic Sports Group (SSG) pumped $3bn into PGA Tour Enterprises, the new for-profit company, 193 players are set to be given equity in the US-based circuit for resisting the advances of LIV Golf.
Of the $3bn fund, roughly $1bn will be split among players on a sliding scale, with PGA Tour commissioner Jay Monahan due to inform golfers later today.
Who gets what will be determined by Career Points, a metric which is calculated based on things like years spent on tour, wins and appearances in the Tour Championship, with players separated into groups. The Player Impact Program (PIP) is also taken into consideration.
With all that in mind, it is little wonder Woods tops the Group 1 list by a considerable margin and is therefore primed for the biggest payday.
The 48-year-old joined the PGA Tour in 1996 and is tied for the most wins of all-time alongside Sam Snead with 82. He has also ranked highest in the PIP across the three years since its introduction and has received $35m in payments to date.
With $750m to be shared between the 36 players in Group 1, Woods could receive as much as double that of his nearest challenger, Rory McIlroy.
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The Northern Irishman has 24 PGA Tour titles to his name and has lifted the FedEx Cup three times and heads the likes of Jordan Spieth and Justin Thomas, who will be given equity worth around $30m.
Group 2 will be made up of 64 players, who will split $75m in equity, with 57 players in Group 3 to share $30m.
The final $75m will go to 36 retired players, who will still be ranked on Career Points.
Anyone who left the PGA Tour for LIV Golf doesn’t qualify, meaning the likes of Phil Mickelson and Jon Rahm will miss out.
However, PGA Tour players won’t be allowed to cash in their equity immediately. Instead, half will be available after four years, 25 percent two years after that, with the final 25 percent available another two years later.
Players must also meet the criteria, which includes continued loyalty to the PGA Tour and meeting the minimum membership requirements.
A lifelong golf fan, Andy graduated in 2019 with a degree in Sports Journalism and got his first role in the industry as the Instruction Editor for National Club Golfer. From there, he decided to go freelance and now covers a variety of topics for Golf Monthly.
Andy took up the game at the age of seven and even harboured ambitions of a career in the professional ranks for a spell. That didn’t pan out, but he still enjoys his weekend golf at Royal Troon and holds a scratch handicap. As a side note, he's made five holes-in-one and could quite possibly be Retief Goosen’s biggest fan.
As well as the above, some of Andy's work has featured on websites such as goal.com, dailyrecord.co.uk, and theopen.com.
What's in Andy's bag?
Driver: Callaway Mavrik Sub-Zero (9°)
3-wood: TaylorMade Stealth 2 Plus (15°)
Driving iron: Titleist U500 (17°)
Irons: Mizuno mp32 (4-PW)
Wedges: Titleist Vokey SM9 (50°, 54° and 58°)
Putter: Titleist Scotty Cameron Newport 2.5
Ball: TaylorMade TP5x
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