Rory McIlroy has settled his long and bitter contract dispute with his former agent in a deal believed to be worth more than £13 million.
The High Court in Dublin was told on Wednesday (Feb 4) that the row had been resolved following last-ditch negotiations between the world no.1’s lawyers and Conor Ridge of Horizon Sports Management.
The terms of the settlement were not given in court, but a source close to the case said that the settlement was in excess of $20 million.
McIlroy had sued Ridge’s agency over the cut his firm was taking from on and off-course earnings.
A brief statement agreed between the McIlroy and Ridge legal team was released following the hearing. “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,” it said.
The two sides were locked in talks for about 10 hours in central Dublin on Tuesday night, with McIlroy leaving at about 9pm without making any comment. When the case was called on Wednesday, Paul Gallagher, senior counsel for McIlroy, told the court: “The entire matter has been resolved.”
McIlroy’s business interests are now overseen by Rory McIlroy Incorporated, which is headed by Donal Casey, formerly of Horizon, his father Gerry, business executive Barry Funston.