The legal dispute between Rory McIlroy and Horizon Sports Management was settled out of court this morning.
The world number one was suing Horizon for a reported £5.6m as he believed he had been charged excessive fees by his former management company along with not being probably taken care of by them.
Horizon were counter-suing for fees owed to them along with loss of earnings due to McIroy breaking the contract.
Some reports have emerged following the announcement with the Press Association saying that a source close to the case told them McIlroy is likely to have agreed to pay well over $20m (€17.45m) to Horizon plus costs.
However, The Irish Times reported figures are even larger. They say the number paid by McIlroy is between €21.8m and €26.2m, also plus costs.
The two parties released a joint statement.
The legal dispute between Rory McIlroy and Horizon Sports Management has been settled to the satisfaction of both parties who wish each other well for the future.
The parties will be making no further comment.
According to last year's Sunday Times rich list, McIlroy was worth £28m.
Picture credit: David Maher / SPORTSFILE