WORLD NUMBER one golfer Rory McIlroy has settled his long and bitter contract dispute with his former agent in a deal believed to have cost him more than £13 million.
The High Court in Dublin was told that the row had been resolved following 10 hours of last-ditch negotiations between the star’s lawyers and advisers and Conor Ridge, of Horizon Sports Management.
McIlroy was not in court for the brief hearing.
A source close to the case said the settlement cost the golfer “materially above” the figure of 20 million US dollars (£13.1 million) after he walked away from his contract.
“It’s in the public domain that the amount of money owing under the contract and the money likely to be generated from the contract was 20 million dollars,” a source said. “The settlement was in excess of that, plus costs.”
Asked how much in excess, the source said it was “far north” of the 20 million US dollars figure.
McIlroy, fresh from a weekend victory in Dubai, had sued Mr Ridge’s agency over the cut his firm was taking from on and off-course earnings in a potentially ugly row over £4.2 million in fees.
The terms of the deal were not detailed in court.
A statement read outside the court said. “The legal dispute between Rory McIlroy and Horizon Sports Management has been settled to the satisfaction of both parties, who wish each other well for the future the two camps said. The parties will be making no further comment.” The two sides had been locked in talks for about 10 hours on Monday at the courts complex in central Dublin.