Tiger Woods paid $10m for failed Dubai golf course

Wednesday, 2 February 2011 00:01 -     - {{hitsCtrl.values.hits}}

Former world No.1 golfer Tiger Woods was paid a design fee of $10m, plus real estate royalties, for his role in the now-suspended Dubai golf development bearing his name.

The scandal-hit golfer netted the seven-figure sum for designing the exclusive course, which was backed by state-owned Dubai Properties, but just eight holes of the project have been built, The Guardian reported

Woods was also set to receive royalties on real estate sales of the 287 luxury villas and mansions that, at their peak, ranged in price from $12m to $23m.

Dubai Properties said in November 2007 that Woods planned to build a 16,500 sq ft mansion overlooking the golf course that would include a gym, theater, library and pool.

Original plans for the 55 million sq ft Tiger Woods Dubai included a boutique hotel and a clubhouse.

The course was originally due to for completion by September 2009.

Woods told reporters earlier this week that the Dubai project had “been put on hold for right now”, news confirmed yesterday by Dubai Properties, a unit of debt-hit Dubai Holding.

“A lot of projects are [on hold] out there,” Woods said. “It’s still there. We’ve got six completed holes and a few that were about to be grassed before construction was halted. Everything is on hold.”