LIV, a new Saudi Arabian golf league, is offering PGA players astounding amounts of money to leave the PGA.
LIV Opens The Cash Register: Some big-name players such as Phil Mickleson and Dustin Johnson have reportedly taken $100-million deals to leave the PGA and join LIV.
But LIV wants one golfer who will not be swayed: Tiger Woods. LIV offered Woods nearly $1 billion to leave the PGA, but he turned it down, according to a recent Greg Norman interview with the Washington Post.
Norman said that the offer was a “mind-blowing amount” and in the “high nine digits.”
While “high nine digits” may be a loose definition, we can infer that it’s anywhere between $700,000,000 and $999,999,999. It’s hard to believe that Norman would have described the deal in this way if it were much less than $700,000,000.
Woods was previously a billionaire through his lucrative endorsement deals with companies like Nike Inc (NYSE:NKE) and career earnings on the PGA Tour. He lost his billionaire status following a tumultuous divorce with his ex-wife Elin Nordegren.
The Last Word: While it must be hard to turn down a deal worth that much money, Woods clearly understands the impact that the move to LIV would have on his reputation.
After years of working to regain his public image, it’s unlikely that Woods will throw that away for a check, even if it’s a big one.
