The case between Rory McIlroy and his former management company Horizon Sports Management has been settled for a sum understood to be in the region of $25m (€22m), plus legal costs.
The golfer will make this payment to Horizon as a once-off payment to resolve the long-running dispute between the sides over a contract signed in 2011.
The settlement is being made in US dollars. Neither party has commented publicly on the amounts involved.
It concludes the legal dispute between them.
At the High Court earlier, Judge Brian Cregan was told by counsel for McIlroy that the entire matter had been resolved.
Judge Cregan "congratulated" the parties for reaching a resolution.
Conor Ridge, Horizon Sports Management leaves High Court in #Dublin after case with golfer #RoryMcIlroy is settled. pic.twitter.com/dt65X729BV
— Ray Kennedy (@RayKennedyHack) February 4, 2015
Joint statement is read to press after #RoryMcIlroy case is settled at High Court #dublin. 'Both sides satisfied'. pic.twitter.com/rCnrUTXvfU
— Ray Kennedy (@RayKennedyHack) February 4, 2015
In a joint statement, McIlroy and Horizon Sports Management said the dispute "has been settled to the satisfaction of both parties who wish each other well for the future".
Congratulating both sides for reaching a settlement in the dispute, over a contract the golfer signed in 2011, Judge Cregan said he wished Horizon well with its sports agency into the future and wished McIlroy success with his sporting endeavours.
McIlroy was not in court for today's hearing. He was in attendance yesterday.
The joint statement was read out by a spokesman for both parties, no further comment was made when representatives of Horizon Sports left the court a few moments later.
The parties have agreed no further comment on the issue will be made.
