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Tiger Woods Got $55.4 Million for Dubai Resort, Arabian Says

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Feb. 10 (Bloomberg) -- Tiger Woods was paid $55.4 million by United Arab Emirates developer Tatweer to promote a golf resort project that was suspended last month, Arabian Business reported, citing documents seen by the magazine.

The potential value of agreements between the golfer’s company, Eldrick Tiger Woods, and the developer was $98.8 million, Arabian Business said. That included a fee of more than $14 million due within 10 days of Woods appearing at the official opening of Tiger Woods Dubai, according to the report.

The $1.1 billion resort, including 287 luxury villas and mansions, a boutique hotel and golf course, was originally scheduled to open in September 2009.

Tatweer and Sama Dubai were merged in August 2009 under Dubai Properties Group. A spokesman for Dubai Properties declined to comment on the report.

-- With reporting by Zainab Fattah in Dubai. Editor: Shaji Mathew.

To contact the reporter on this story: Ross Larsen in London on Or rlarsen2@bloomberg.net

To contact the editor responsible for this story: Andrew Blackman at ablackman@bloomberg.net.

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