Sport Golf

Saturday 24 February 2018

Rory McIlroy pens mega $100million contract extension with Nike

Rory McIlroy has extended his contract with Nike
Rory McIlroy has extended his contract with Nike

Harry Clarke

Rory McIlroy has extended his contract with Nike for a further 10 years in a deal that will see the Northern Irishman earn $100million.

Nike ceased producing gold clubs last year so McIlroy's deal is for attire and leaves him free to negotiate further deals with equipment companies.

“I’ve loved this company since I was a kid. I’m really happy to continue this journey with Nike,” said McIlroy in a statement released by Nike.

McIlroy is in Augusta this week as he bids to win his first Masters and his contract extension with Nike comes on the same day the Sunday Independent revealed his estimated wealth has risen to €125m.

According to estimates, 27-year-old McIlroy, from Holywood, Co Down saw his wealth grow by €26m since early 2016, putting  him in 125th place on Ireland's Rich List.

He is the world’s 17th highest-paid athlete, according to Forbes, earning over €40m before tax from winnings and sponsorship last year. His biggest endorsement deal was a €160m agreement with Nike, but last August the sports giant announced it was pulling out of the golf clubs and equipment business.

He also has lucrative deals with Bose, Omega and Upper Deck. He drives a €380,000 Lamborghini Aventador and has a €10m home in Palm Beach, Florida, as well as property in Dubai and Northern Ireland.

McIlroy has switched much of the financial operations of his empire to Ireland. Latest accounts for Rory McIlroy Management Services Ltd show the firm placed a massive $401m (€380m) book value on the firm’s intangible assets.

McIlory is one of the youngest people on the Sunday Independent Rich List but his wealth is significantly below that of tech billionaire John Collison (26), who with his brother Patrick (28), own payments company Stripe. Their wealth is collectively valued at €2.1bn on the Rich List. The youngest entry is musician Niall Horan.

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