Friday, February 6, 2015

Tiger Woods Headed for Cash Crunch?

Embattled golfer Tiger Woods has less than a year to come up with a fifty-million dollar payment to ex-wife Elin Woods.

Golfer Tiger Woods, who missed the cut at the Phoenix Open and recently dropped out of the Farmer's Insurance Open, needs to start winning real bad. Why?
In 349 days, and counting, he’s got a big deadline: According to his divorce settlement, he must pay ex-wifeElin Nordegren $54.5 million by Jan. 15, 2016, or he could lose his Jupiter Island home to her.
How did Woods end up in this situation?
When he and Nordegren divorced in 2010 in the wake of the infamous car crash incident that exposed Woods’ secret life as a booty hound, Woods agreed to pay Nordegren an estimated $110 million over six years.
The six years are up in 2016, and so is the $54.5 million balance of their deal.
To make sure she would get paid, according to records, Nordegren created a holding company named JRD Ventures, and that company became the mortgage holder of Woods’ house, Sand Turtle.
There’s no indication that Woods won’t be able to pay.
He has, after all, made $100 million-plus on the PGA Tour, plus at least $1 billion in endorsements.
By the way, the value of the house and nine beachfront acres for property tax purposes is set at $45.5 million.
But with his lack of wins and golf earnings since the incident, including a career low $100,000 last year, $54.5 million may not be that easy to find.


NBA is fixed said...

Every time someone mentions Tiger Woods, I can't help but think about that extremely funny joke Paul Mooney said. He clowned Tiger Woods better than any other comedian in the game.

NBA is fixed said...

Once again a black man's fortune will go into the hands of white supremacy. What is even more disturbing is that Tiger Woods is currently dating another white woman. I guess he didn't learn his lesson the first time.

Elhefe777 said...

Utter nonsense. Let the ex-nanny get the house and he keeps the cash. He was smart to get that settlement set up this way.

Anonymous said...

He doesn't even consider himself black even though he is more black then half of those other ethnicity that he constantly states. And now he is about to marry another white women so no lesson learned from this she just won't have as much money at her deposal.

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