Tiger Woods and Elin Nordegren New Prenuptial Agreement
Allegations of affairs, a suspicious car wreck, incriminating voice mails and text messages all culminating in an apology for his “trangressions” - Tiger Woods is having a rough week.
As you might expect, Woods and Elin Nordegren signed a pre-nup. And, as they understandably undergo some serious marital counseling, their prenup is getting a make-over.
The original prenuptial agreement stated that Elin would receive $20 million if she remained married to Woods for ten years. The couple was married on Oct. 5, 2004, at the Sandy Lane resort in Barbados.
The Daily Beast reports that Elin is renegotiating and will receive an immediate payment of $5 million to be deposited “into an account she alone controls.” Additionally, the timeframe of the agreement has been reduced to seven years and the value of the agreement has increased “substantially.”
A lawyer familiar with the couple’s negotiations claims that, in addition to the $5 million and shortened timeframe, the revised agreement provides for a staggered schedule of payments spread out over five years that could be worth upward of $75 million. In order for Elin to collect the entire $80 million she will need to be a dutiful wife for another seven years. In addition to appearing with Tiger at social events and acting like the perfect couple in public, Elin must sign a nondisclosure form that prevents her from ever telling her story.
