Tiger Woods' $54.5 million payment to Elin Nordegren explained
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Tiger Woods’ $54.5 million payment to Elin Nordegren explained

When Tiger Woods and Elin Nordegren reached a divorce settlement five years ago, there were reports claiming Nordegren would be paid varying amount of money, but ultimately the figure settled in the $110 million range.

As part of that, Woods took out a mortgage on his Jupiter Island, Fla., home in the value of $54.5 million, or approximately half the settlement, with an LLC established by Nordegren serving as the issuer of that debt. On Page 1 of the mortgage, it's very clear that the full value of the mortgage must be paid by Jan. 15, 2016, or Woods risks losing his home.

Full stop.

Gossip writer Jose Lambiet wrote on Saturday about the looming maturity of the mortgage. He called it an exclusive, though Golf News Net has had most of this mortgage document posted on Scribd for over five years. In fact, here it is:

ProGolfTalk: Tiger Woods' $54.5 Million Mortgage by Ryan Ballengee

Since we, nor, presumably, any other public entity, has access to the payment schedule, it's completely unclear how much, if anything Woods owes Nordegren at this point. However, we can say with some certainty that Woods does not owe $54.5 million at this point, given the language on Page 1 about "periodic payments." In other words, Woods had to pay his note just like any other person.

In other words, this is pretty much a non story, and we wrote this to explain why it is.

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