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Rory McIlroy has ended months of speculation by confirming the termination of his contract with Horizon Sports Management.
He has confirmed the establishment of a new management company, which will be called Rory McIlroy Incorporated.
In a statement issued by issued by the Communications Clinic’s Terry Prone this afternoon, he said the details of the contract termination are “in the hands of a legal team led by A&L Goodbody” in Dublin.
McIlroy was in Dublin today for the announcement, which came through Twitter.
McIlroy had been with the Dublin-based management firm since leaving International Sports Management in October 2011.
From now on, the 24-year-old’s business interests will be managed by Rory McIlroy Incorporated (RMI), the statement confirmed.
The CEO of RMI will be Donal Casey, an actuary by profession with many years of CEO experience.
The Rory Foundation for charity will be run by Barry Funston, a business leader and longtime friend of the McIlroy family.
Both men will serve on the RMI Board, together with Gerry McIlroy, the golfer’s father.
Media relations for the Co Down player and his management company will be handled by a team from The Communications Clinic, headed by Terry Prone, according to the statement.
The double Major winner is following in the footsteps of US Masters champion Adam Scott, who set up his own company headed by his father, Phil, with a small group around him.
The suggestion that McIlroy was to leave Horizon first came to light earlier this year, but the golfer declined to comment at the time.
His decision to join Horizon in 2011 – leaving Chubby Chandler of International Sports Management just months after winning the US Open by eight shots – was in itself something of a surprise.
He had, however, a close relationship with Horizon’s Conor Ridge through his friendship with fellow golfer Graeme McDowell.
Last year McIlroy won the US PGA by a record eight shots – one of five wins that propelled him into the No 1 golfer slot in the world.
His successes on the course were matched by major sponsorship deals off it, including a massive link up with Nike Golf.
However, the popular golfer has struggled to replicate last year’s form this year, and his relationship with tennis star Caroline Wozniacki has increasingly come under the spotlight.
