McIlroy’s legal settlement with ex-agency believed to cost S$41m

DUBLIN — Rory McIlroy’s bitter multimillion-pound contract fight with a former management company was finally settled yesterday, sparing the World No 1 the ordeal of having to take the stand in court.

Although the settlement figure was not revealed, it is believed McIlroy will pay Conor Ridge’s Horizon Sports Management agency nearly £20 million (S$41 million) to release him from his contract.

While the costs will leave a dent in the Northern Irishman’s finances, he will simply be relieved that the affair is now over and that his private dealings will not be laid bare before the court, as he concentrates on maintaining his stunning form while heading back to his Florida home and preparing his bid to become just the sixth player in history to win the career Grand Slam at April’s Masters.

Having seen the case deferred three times on Tuesday, it was obvious the two sides had been in negotiations to strike a deal. The fact that McIlroy, along with his father, Gerry, did not leave the court building until 9pm that evening made it clear that the warring factions had eventually located common ground.

When the lawyers’ bill, which between the two had topped the £4 million mark, is added to the payout, it is easy to understand why, with the prospect of an eight-week trial, there was such an appetite to settle.

The only confusing aspect is why it took so long to do so after rumblings of a split first surfaced almost two years ago.

Golf as a whole will be so glad the divorce is at last complete. McIlroy is now officially and undeniably managed by his own company, Rory McIlroy Incorporated, and will be confident of a less chaotic future off the course.

With the five-year US$100 million (S$134 million) Nike deal in its third year and with lucrative and seemingly secure endorsements with firms such as Santander, Omega and Bose, the hottest property in his sport should never have to concern himself with the greenback.

His closest confidante, Sean O’Flaherty, and well-known Irish businessman Donal Casey, both of whom worked for Horizon, will essentially handle his affairs, together with Gerry, who is also on the board.

What Ridge will do next is unclear. Horizon always maintained the commissions McIlroy agreed to in December 2011 were merely “trade standard”. It also vehemently denied the golfer’s claims that he had been “coerced” into signing what he called “an unconscionable contract” as a naive 22-year-old. THE DAILY TELEGRAPH