No. McIlroy issued proceedings first. Horizon defended those proceedings and counterclaimed when they entered their defence.
Ok, I thought they would have been the ones lodging the claim first after he broke his contract.
Anyone know what the ballpark figure might be on such a settlement? Someone mentioned elsewhere about 10M being refused by Horizon, what are we talking, 15M or so?
Examiner are reporting a much higher figure. Heâs probably spent a 7 figure sum on legal fees and if this is the case has still given Ridge everything he was looking for.
World number one golfer Rory McIlroy has settled his long and bitter contract dispute with his former agent in a deal believed to be worth more than âŹ17.25m.
The High Court in Dublin was told that the row had been resolved following last-ditch negotiations between the starâs lawyers and advisers and Conor Ridge, of Horizon Sports Management.
McIlroy was not in court for the brief hearing and the terms of the settlement were not detailed in court.
But a source close to the case said the settlement was âfar northâ of $20m.
âItâs in the public domain that the amount of money owing under the contract and the money likely to be generated from the contract was $20m,â a source said.
McIlroy, fresh from a weekend victory in Dubai, had sued Mr Ridgeâs agency over the cut his firm was taking from on and off-course earnings in a potentially ugly row over âŹ5.6m in fees.
Mr Ridge, who was flanked by supporters in the public gallery, hugged and kissed them after the announcement was made.
A brief statement agreed between the McIlroy and Ridge camps was released following the hearing.
âThe legal dispute between Rory McIlroy and Horizon Sports Management has been settled to the satisfaction of both parties, who wish each other well for the future,â it said.
âThe parties will be making no further comment.â
The two sides had been locked in talks for about 10 hours yesterday at the Four Courts complex in central Dublin, with McIlroy leaving last night at about 9pm without making any comment.
When the case was called this morning, Paul Gallagher, senior counsel for McIlroy, told the court: âThe entire matter has been resolved.â
Daily Mail say 15m sterling was the number. Contract ran to 2017 and Nike agreement was 100m dollars so they seem to have held on for most of what they were entitled to
[quote=âManuel Zelaya, post: 1086177â]But a source close to the case said the settlement was âfar northâ of $20m.
[/quote]
I called it at 20m yesterday on basis lawyers are always going to settle to de risk the process for them. If it went to trial and blew up then Horizons lawyers would not get paid
If McIlroy hadnât sued initially it have had any impact or would Horizon have brought the case anyway?
The Arthur Coxâs and A & L Goodbodyâs of this country always get paid. You can be sure that both Ridge & McIlroy had to stump up a good whack up front.
Youâd imagine they definitely would have.
Conor Ridge mugged him off here, mugged him off good and proper. Fair play.
Suspect it was a pre emptive strike to defend a position where Hotizon wrote looking for money under a signed and to them undisputed contract and so claim was for liquidated damages.
Horizon appear to only have Ross Fisher and Shane Lowry on their books. Money for jam.
its just change to our kid.nike will probably stump up for a good chunk of it anyway
As part of the agreement, it is understood the golfer will pay the firm more than $25 million (âŹ21.8 million) and possibly up to $30 million (âŹ26.2 million), plus costs, as part of the settlement.
Mugged off good and proper.
Vindication for us.
The best thing about it is they got a decent chunk of the money they were due, and have to spend sweet fuck all looking after the cunt.
I donât know anything about this story but iâm fooking delighted⌠This fucker seems to drop people along the way willy nilly⌠Karma is a bitch.
As long as McIlroy kept giving them what was owed under contract would have been no case. If they stopped paying then Horizon would have sued on specific performance of contract. Looked like McIlroy just took a pre emptive action to get his grievance out there rather than just presenting his case as a defence to other proceedings. Idiotic stuff.