Tiger Woods May Have To Start Cutting Back On Club Sandwiches

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As Tiger's revenues have declined, his expenses have only climbed. To begin with, there's the reported $100 million divorce settlement. And last August, Woods took out a $54.5 million mortgage on his home in Jupiter Island, Florida. According to the public document, Woods is required to pay off the mortgage in full by January of 2016, giving him a mere five and a half years to shed the debt. He's therefore paying more than $10 million each year, including his $431,042 in annual property taxes. Between the divorce settlement and his recent mortgage, Tiger has faced recent debts to the tune of at least $160 million, though it's unknown how much of this he has now paid down. His endorsement earnings will not come close to this in 2011, and he's no longer adding much to his pot with golf winnings. Nike's decisive slash to his contract has not helped matters. [Fortune, earlier]

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