Tiger Woods takes out £36m mortgage to fund bachelor pad

Tiger Woods takes out £36m mortgage to fund bachelor pad


The recent spate of scandalous events dogging sporting superstar Tiger Woods of late, may well have led to the £35 million mortgage taken out against his off-plan property.

Woods’ mansion, named Sand Turtle, is under construction on the millionaire playground, Jupiter Island – reportedly the most expensive residential area in all of America. Once finished, the 10,000 sq ft new build will take up 12 acres and boast a tennis court, oxygen therapy room, a fitness centre and several swimming pools.

The property has been reportedly mortgaged to finance Woods’ divorce settlement with his ex-wife, the model Elin Nordegren. The divorce comes after Woods’ personal life became the subject of media frenzy last autumn.

The mortgage is said to have been filed with the Martin County Clerk of Courts, and Woods has agreed to pay back the loan to JRD Florida Ventures LLC by January 15, 2016.

Exact figures of the divorce settlement are undisclosed, but current estimates believe it to be around £65 million, and not the £500 million sum once rumoured.

According to documents obtained by celebrity website TMZ.com, the paperwork was filed on August 27, less than a week after the pair divorced in Panama City.

Woods is believed to be the world’s richest sportsman with a personal fortune of over £300 million.

However, the golfing star’s car crash in November last year – an event that led to string of media reports about his personal life – has had a dramatic effect on Woods, with financial analysts predicating he has lost up to £40 million in sponsorship and advertising revenue as a result.

According to the Telegraph newspaper, in 2006 and 2007, Woods paid just under £30 million for the 12 acre site through “various Orlando companies”.

Once he moves into his ‘bachelor pad’ he’ll be counting the likes of Celine Dion and fellow golfing star Greg Norman as neighbours.

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