Make it two big wins in four days for Rory McIlroy.
The No. 1 golfer in the world, fresh off his win at the Omega Dubai Desert Classic, reached an out-of-court settlement with Horizon Sports Management on Wednesday, avoiding going to trial or arbitration. McIlroy will pay Horizon somewhere in the neighborhood of $20 million, but experts say it could have been far worse.
McIlroy had sued Horizon and its leading agent, Conor Ridge, saying he had been misled into signing a contract. Horizon countersued, claiming breach of contract, when McIlroy left the agreement and started his own company.
Had the settlement not been reached, a Dublin court was prepared to take the case, which was estimated to take eight weeks and require McIlroy to testify.
Instead some 10 hours of talks on Tuesday did the trick. McIlroy had complained that his rates: 5% of pre-tax prize winnings and 20% of sponsorship / appearance money, were much worse deals than other top 10 players, including fellow Horizon client Graeme McDowell.
McIlroy’s business interests are now directly managed by his own company, run by his father and a lifelong friend.
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