"Rory firm's $105m loss after rights write-down"
Tuesday, November 28, 2017 at 11:08 PM
Geoff in Rory McIIroy

I haven't a clue what this means, but Gordon Deegan briefly explains why Rory McIlroy's in-house management firm took a massive $105.4 million (€88.3m) write down in 2017.

The paper loss stems from a non-cash writedown of $99m in the value of McIlroy's lifetime image rights.

The Northern Ireland golfer is unlikely to be too perturbed with the loss, with 'Forbes' magazine last year estimating that he earned $42.5m in 2016 - broken down between $35m from endorsements and $7.6m in winnings.

Deegan goes on to explain the finances of McIlroy's firm which presents far-fewer jaw dropping lines as the write-down.

Rory named his ownself as manager/agent to Rory in 2013.

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