Tiger Woods divorce settlement to cost $750 million: Reports

Updated: Jul 02, 2010, 13:03 PM IST

Zeenews Bureau

New Delhi: Tiger Woods and wife Elin Nordegren have hammered out a divorce settlement that will net the ex-model $750 million (Rs 3500 crore), which translates to three-fourths of the golfer`s known $1 billion fortune.

According to the The Sun, which quotes an unnamed friend of the couple, Elin will snag the cash, plus homes in Sweden and Windermere, Florida and will "never publicly speak out over his flings with socialite Rachel Uchitel, reality star Jaimee Grubbs, porn queen Josyln James and up to 17 others, who will work out costing him USD 37 million each".

The Sun source said that Elin was "desperate to protect the children from the womanising side of their father, Tiger`s main fear is her telling her story after he`s rebuilt his reputation, sending him back to the gutter."

Elin will also be granted primary custody of their two children, 3-year-old daughter Sam and 1-year-old son Charlie. The terms of the settlement specify that the golfer must not bring any new girlfriends around the kids until he gets remarried.

Tiger will keep the USD 75 million estate in Jupiter Island, Florida, where the couple had been building a new mansion. He will also keep their £2million apartment in Los Angeles, when the six-year marriage officially ends.

Elin and Tiger will split legal custody of their kids which means that Elin will not be able to permanently relocate kids to her native Sweden. Woods can also renegotiate the custody agreement in five years, the paper reported.

The $750 million settlement, if verified, would be the largest in history. According to reports, the divorce is "very close to being finalized," however The Forbes` SportsMoney column has argued that Woods` divorce couldn`t cost him USD 750 million, because he doesn`t have that much money.

Forbes says that by its calculations, the golfer`s net worth is USD 600 million.

All speculation, however, is expected to end next week when official divorce announcement is made at Orlando County court.