Blog 9: Tiger vs Elin: For all the Bucks!
Posted on July 4, 2010 by
A number of media sources reported earlier this week that Tiger was going to give Elin $750 million to settle their divorce. That's just stupid. Tiger doesn't even have that much money. They estimate he's only worth $500 to $600 million. I use the term "only" quite loosly, realizing that most of us would give anything to be worth a fraction of that amount. Anyway, at most he's worth $600 million. That means he'd have to give her all his hard earned money, and then have to borrow a hundred fifty million more for her. Then he'd be left a broke-ass loser. That absolutely makes no sense.
Media folks dream up these huge ridiculous payouts because it makes good headlines. Then they tack on stuff about Tiger paying it to keep Elin quiet. He doesn't want her spilling the beans on his lifestyle. If I'm Tiger Woods, I'm keeping my money. I'll just take my lumps. If she comes out and says stuff that embarrasses me, I'll just be an embarrassed rich cabalanegro. Money has a way of soothing embarrassment. "Yes, it was a tad embarrassing, so I took a cruise on my yacht".
Tiger can't afford to give away the farm, and expect to get it back again soon. His primary source of income is gone. For those of you thinking "he still golfs", the reality is that golf earnings haven't been Tiger's primary source of income. Sponsorships are what floats Tiger's boat, and most of his sponsors have jumped ship. In a good year, Tiger may have been making $10 million on golf fees and earnings, and $90 million on sponsorships. Some of those sponsors will never return to him. So, he has to hold on to what he's got.
What's the point of getting a prenup if you're not going to use it? Word is that Tiger Woods set up a prenup with Elin that would guarantee her $20 million after 10 years of marriage. They've only been married 6 years. So, he doesn't even have to pay her $20 million.
More recent reports are now suggesting a payout of only $100 million (once again I'm caught using that term "only" with dollar amounts I'd beg to see). This is more in the realm of reality, given his worth, and hers.
This be madness!
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