September 01, 2010
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Why is this man smiling? Because he can see the end of his mortgage payments in the not-too-distant future.
A huge chunk of Tiger Woods' sponsors and fanbase may have abandoned the beleaguered golfer in the wake of his revelations of infidelity, but if some newly filed financial documents are to be believed, there's one person who still has tremendous faith in Woods: Tiger himself.
[Photos: See latest images of Tiger]
In a story first reported by TMZ and confirmed by Yahoo! Sports (via Waggle Room), Woods has taken out a $54.5 million mortgage for a brand-new mansion he's building on Jupiter Island, Fla. And no "go-for-the-adjustable-rate-and-pray" route for Tiger; no, he intends to pay back the loan by Jan. 15, 2016. (See, folks? That's sound financial strategy. If you've got a spare $54 million lying around, go ahead and get your mortgage paid off.)
You can get a look at the full documentation right here (PDF format, and remember, this is all public record.) Among the findings:
• This consolidates Woods' holdings in three properties on Jupiter Island, Fla. Woods is listed as "a single man," and for the record, signs his name "Eldrick," not "Tiger."
• At standard interest rates, Woods will pay about $1 million a month in mortgage payments.
• The law firm retained by Woods' ex-wife Elin Nordegren, McGuireWoods, is listed as receiving a copy as well.
[Photos: See images of Tiger's ex Elin Nordegren]
Woods' estate spans three properties and will include all the requisite perks for someone of Woods' stature -- pools, tennis courts, fitness center, miles of hallways. That'll cost plenty to buy and maintain, so obviously Woods has faith that he'll play well in a few golf tournaments between now and 2016.
He gets his next chance this week at the Deutsche Bank Championship, the second round of the FedEx Cup playoffs, which tees off Friday.
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