Rory McIlroy has confirmed the worst kept secret golf by setting up his own management agency.

The 24 year old has left Horizon Sports Management and set up an agency called Rory McIlroy Incorporated.

Former Horizon Director of Strategy Donal Casey will act as CEO for the new venture, while all media relations for the two time major winner will be handled by Terry Prone's Communication Clinic.

McIlroy originally joined Dublin-based Horizon just over two years ago.

The move comes at the end of a very poor year for McIlroy, which has seen slip from the top of the world rankings to 6th and without a win all season.

Meanwhile Tiger Woods has been named the PGA Tour player of the year for the 11th time.

The World Number 1 has won five tournaments this season, but failed to win a major. His wait now for his 15th major title goes back to his US Open win at Torrey Pines in 2008.

Jordan Spieth has won the Rookie of the Year award after a stellar year in which he won in just his third event, in Phoenix.