- Rory McIlroy settles legal dispute
- World No.1 sued over alleged high fees
- McIlroy accused of breaching contract
- Northern Irishman won Dubai Desert Classic last weekend
The World No.1 avoided a potentially long and drawn out court case in Dublin, Ireland, after attempting to sue Horizon Sports Management, who in turn were counter-suing the golfer by claiming the Northern Irishman owed them millions of dollars in commission on contracts up to 2017.
McIlroy had labeled the contract he had signed with Horizon as "unconscionable."
"The legal dispute between Rory McIlroy and Horizon Sports Management has been settled to the satisfaction of both parties who wish each other well for the future," said a joint statement from McIlroy and Horizon.
"The parties will be making no further comment," added the statement.
McIlroy reportedly paid $22.8m million plus costs to settle the case.
In an interview with CNN's Living Golf show month, McIlroy insisted the case had been about taking "control of things myself."
He added: "If there's one good thing that's came out of all of this, it's being able to set up my own management team and my own management company.
"That's been huge. Even after all of this, having a great team around me and a great team in place, that's all been worth it."
The period under dispute coincided with McIlroy's sponsorship deal with Nike, which was reported be worth around $100m.
McIlroy, who won the Dubai Desert Classic last weekend
, was not in court when the settlement was announced, though he did make a brief appearance on Tuesday.
The 25-year-old had claimed that the fees charged by Horizon were excessive, while simultaneously being accused of breaching his contract and owing outstanding fees.
McIlroy terminated his contract with Horizon in 2013 to set up his own company.