Tiger, Steiney "Reported" Earnings Not Adding Up
/We learned this week from IMG sources quoted in two stories that Mark Steinberg was too expensive to keep at $3 million a year in part because Tiger only generated $1.1 million in commission pay in his last year. However, as Ryan Ballengee notes, Forbes has Tiger atop their athlete list for earnings ending May 2011 at $75 million and well, the math on someone's end is not adding up.
That means – with our wild guesstimate – Woods was good for another $65 million off-course in 2010. Sources told SportsBusiness Journal that Woods did not net management firm IMG enough to keep Mark Steinberg on board, meaning that Woods pulled in less than Steinberg’s $3 million compensation package.
Even if Woods was ceding just five percent of that $65 million, he could cover Steinberg’s costs. Something doesn’t add up right.
Okay kids, take your pick:
A) Forbes's $75 million is seriously off base.
B) IMG sources were misleading writers about Steinberg's compensation or Tiger's fees collected
C) A and B