Rory McIlroy’s legal dispute with his former agents has ended with a settlement understood to be worth ‘in the region of 20 million US dollars’ plus costs.
The golfer's Senior Counsel told Judge Brian Cregan that the matter had been resolved "to the satisfaction of all parties".
The terms of the settlement with Horizon Sports Management will not be released.
However ot is reported the out-of-court settlement which brought the bitter row to a close is worth in the region of $20m plus costs.
Rory McIlroy was not in court this morning to hear that the multi-million euro action had been resolved after hours of negotiations between both parties.
After the matter was settled, Judge Brian Cregan wished both sides all the best in the future.
Horizon Sports Management spokesperson Billy Murphy spoke outside the High Court today:
25-year-old McIlroy’s multi-million euro action against his former agents was due to kick-off on Tuesday but was deferred three times as both sides sought to “narrow” the legal issues at hand.
The four time Major winner appeared in Dublin yesterday for the case, having jetted in straight from Dubai where he secured his 16th professional title. He appeared confident and upbeat at the High Court, wearing a navy suit and black-framed glasses.
Press pack waiting for Rory #McIlroy to leave the Four Courts. https://t.co/T35pxjdhmC
— Richard Chambers (@newschambers) February 3, 2015
The case centered on the contract the Ulsterman signed with the Dublin-based firm back in 2011. McIlroy claimed that document should be regarded as “unconscionable” because, at age of 22, his youth and inexperienced were exploited and he did not have independent legal advice at the time.
Of course, under Horizon’s management, McIlroy became the world’s top golfer, won the 2012 PGA Championship and, perhaps most crucially to the case at hand, signed the $100 million deal with Nike.
Those earnings were key to the High Court action because when McIlroy left the company in 2013 and later set up his own management firm, he cut short an arrangement scheduled to run until 2017.
Horizon claimed it was entitled to a share of those earnings. It alleged that the golfer breached his contract.
