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In 2021, LIV Golf announced its arrival on the golf scene. Backed by Saudi Arabia’s Public Investment Fund (PIF), the new league quickly set its sights on the PGA Tour. Namely, LIV went after some of the biggest names in golf. The PGA Tour admonished the players who jumped ship, including big names like Phil Mickelson, Dustin Johnson, and Jon Rahm.
Some PGA Tour players, notably Rory McIlroy and Tiger Woods, spoke out against LIV, believing it was a detriment to the sport. Their loyalty was put to the test when the PGA Tour and LIV announced last year that they were planning to join forces.
Several months later, those players are being rewarded for their loyalty. According to The Telegraph, the newly formed PGA Tour Enterprises — which received a big cash infusion from Strategic Sports Group — will pay nearly 200 players a total of close to $1 billion.
Oisin Keniry/R&A/R&A via Getty Images
Woods and McIlroy are the big winners financially. Woods will receive about $100 million, while McIlroy will make around $50 million. Jordan Spieth and Justin Thomas will get $30 million each, and another $75 million will go toward retired players.
The top 36 players, based on popularity and career performance, will get a collective $750 million, while other players will also collect smaller amounts. The PGA Tour received funding to provide an additional $100 million in payouts over the next several years.
However, this money has a bit of a catch. Players must remain loyal to the PGA Tour, and the equity will vest over the next eight years. Golf.com noted the equity will be paid out evenly, which means Woods will make $12.5 million per year while McIlroy earns $6.25 million annually.
These payouts could all change in the coming months and years. The PIF has dished out a TON of money to LIV Golf participants. If the two golf leagues reach an agreement, PGA Tour players would likely receive a lucrative windfall.
For now, those players can breathe a sigh of relief. It took a while, but they were finally rewarded for their loyalty.
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