Tiger Woods Divorce Settlement Finalized
It is a hole in 750. That is $750 million, for Elin Nordegren, the soon to be former wife of golfer Tiger Woods. Since the Tiger Woods divorce story and all that lead up to it has been played out ad nauseum, (in the truest sense of the words) we will briefly outline the monetary and legal details of the remains of the marriage.
While most news sources seem to sight the British tabloid the London Sun for their numbers, $750 million seems to be the agreed upon amount. While some have opined that this number is way beyond the traditional 50% mark hence making the much put upon Nordegren out to be a gold-digger, later reports by FOXNews and others say that the amount is based on discovery of new assets by Elin's legal team. At first thought to be worth $1 billion, more assets had been discovered making the overall amount to draw from that much larger.
In return, both parties have reportedly given assurances that could help move them forward. In return for the substantial settlement, FOXNews reports that Elin Nordegren has agreed never to speak publicly about Tiger's transgressions. Her agreement supposedly will even outlast Tiger's lifetime. In exchange, Tiger has agreed that none of his "girlfriends" will be allowed in the presence of his children. Female staff known to Elin and married women (in this day and age, is that really a protection?) will be allowed to have contact with the two children from their marriage.
While Elin will retain physical custody of the kids, Tiger will have a shared legal custody and therefore be allowed to have part in decision making about their upbringing. FOX reports that the custody agreement can be re-negotiated in five years. In a small show of kindness, a "pal" of Elin's is reported to have said, "Elin admits that despite everything, Tiger loves his kids and has been a decent dad."
The papers are due to be signed at the divorce hearing next week in Orlando, Florida.
Related Resources:
- Elin Nordegren Gets $750M, Custody of Kids in Exchange for Silence in Tiger Woods Divorce (FOXNews)
- Report: Tiger-Elin divorce final; she gets $750 million (Out of Bounds, NBC Sports)
- Hell Hath No Fury: Tiger Woods & Postnuptial Agreements (FindLaw's Law and Daily Life)
- Devon James Files Paternity Action against Golfer Tiger Woods (FindLaw's Celebrity Justice)
- Divorce Information Center (provided by Stettner & Morris)
- Custody and Visitation Overview (provided by Short Law Firm, PC)
- Questions to Ask During Divorce (provided by Colwell, Colwell & Petroccione, LLP)