IRELAND’S richest sportsman Rory McIlroy has invested some of his burgeoning wealth in a tax-driven deal to build a €25m Hilton Hotel in Sheffield, England.
McIlroy is a backer of the West Bar BPRA limited partnership, which is funding the deal. He is joined in the investment by Ireland goalkeeper Keiren Westwood, who has been warming the bench at Sunderland FC for several months.
Advisory documents for the scheme indicate that backers of the 142-bed hotel scheme could net returns of up to 23 per cent over the next eight years. The minimum investment was €120,000 for each backer.
McIlroy signed a 10-year, €190m sponsorship deal with Nike last week, smashing any previous Irish records for endorsements.
The golfer has some diverse investments ranging from a small stake in the luxury yacht and speedboat maker Sunseeker, which was bought in a €30m deal by Irish private equity group FL Partners in 2010.