Revealed: Tiger Woods paid $55.4m for failed Dubai golf resort

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In total, the potential value of the new Tatweer deal was worth $98.8m to Tiger Woods (ITP Images)

In total, the potential value of the new Tatweer deal was worth $98.8m to Tiger Woods (ITP Images)

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Former world No.1 golfer Tiger Woods was paid $55.4m for his part in the now-halted Dubai golf course bearing his name. Following the project’s suspension, should he:

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Posted by: Xiaolong

Agree with Benoit.... Sort of in the timeline when DPG "TRIED" to take dh21.75/sqf service charge from jbr residents.

Posted by: Shoulabob

Many of us have been cheated by developers here and we have no legal recourse, so it is heartening to hear that someone has got one over on them!

Good luck to Tiger - keep the money, I have no sympathy for the developer.

I imagine that Tiger's lawyers were smart enough to manage the contractual terminology in the event the developer defaulted and failed to complete.

Posted by: J.Smith

I could not agree with you anymore. I'm glad Tiger pocketed the extra cash!!
I had recently leased a shop space in International city and unfortunately everything that is least expected from a retail space was missing.

All I have got from Nakheel is.."it is not our responsibility!!" I have to wonder if it isnt theirs, then whose it is!!!

Posted by: EXPAT in India

Why blame Tiger. He deserved the money. He and his golf design firm were contracted to design a superior Golf Course and Tatweer leveraged on the fact that he was World No.1 at the time and therefore paid him this vast amount of money which can only be deemed as advertising costs.

The homes that were to be built there were not going to be for the ordinary folks when the Advertising costs itself was so much! That the project got cancelled is no fault of Tiger; the design was completed and construction had started on the course although it is NOT finished.

Cheers to Tiger on a good business deal.

Posted by: Richard Blayton

The funds have been used up. So press for more.

Posted by: Andre

I voted that ETW should return all the money..., but re-thinking my vote, DPG deserve to lose the money - and ETW should keep it! Wasn't there a "no-show" clause or something similar?

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