The highly ambitious and much-talked about Al Ruwaya golf resort in Dubai involving Tiger Woods in Dubai has been called off, reported the media in Middle east and elsewhere. The news of the deal having been dissolved appeared in http://www.arabianbusiness.com.
The publication reported, “Dubai Holding has confirmed it has “dissolved” its partnership with Tiger Woods. The branded golf resort, for which the World No.1 golfer was paid $55.4m to design and promote, has been permanently scrapped.
Dubai Properties Group, a unit of Dubai Holding, announced in January 2010 it had suspended work on the luxury Tiger Woods Dubai golf course and residential units but said it would “continue to be monitored and a decision will be made in the future when to restart the project.”
“As some initial work had begun on the site before it was suspended in 2010, the developer said it is currently reviewing its options on how best to develop the site and a new project, which will have no association with Tiger Woods, will be announced in due course.
“In February 2011 it was revealed Woods received $55.4m to design and promote the golf resort. Under a revised contract drawn up in 2008 between Woods' company ETW (Eldrick Tiger Woods) and Dubai developer Tatweer, which is now part of Dubai Holding, the golfer was paid $26.25m upfront and an additional $29,166,667 ten days after signing the contract.”
According to SB Nation, Tiger Woods and Dubai Holdings parted ways officially, even though the resort itself might be completed some time in the future. But Woods will have nothing to do with it anymore. Woods was said to have been paid $ 55.4 million for the project.
According to the LA Times, “The ambitious project, in conjunction with Dubai Properties Group, was to include a championship course surrounded by nearly 200 villas, mansions and palaces. A boutique hotel and golf academy were also in the works, with Woods reportedly paid $55 million to design and promote the resort."
The project was actually suspended in 2010 before finally being canceled this week.