Tiger Woods, Rory McIlroy and other PGA Tour stars are about to receive massive bonuses for their loyalty.
The Telegraph reported Wednesday that Woods will receive up to $100 million in equity as part of the newly created for-profit PGA Tour Enterprises, with McIlroy getting about half that amount.
The payouts, which are set to be disclosed to the players by PGA Tour commissioner Jay Monahan on Wednesday, are a way to thank players for sticking with the PGA Tour instead of jumping to the rival LIV Golf League and huge paydays from Saudi Arabia’s Public Investment Fund.
Nearly 200 players will receive a stake, with $750 million of it going to the top 36 players based on a formula that weighs career success and cultural popularity, according to The Telegraph. Other notable payouts include $30 million each for Jordan Spieth and Justin Thomas, while $75 million is targeted to go to notable retired players.