Tiger divests from Dubai development

Tiger Woods’ partnership with Dubai Holding has
“dissolved,” according to ArabianBusiness.com. Woods was supposed
to be paid $55.4 million to design and promote the golf resort.

Dubai Properties Group, a unit of Dubai Holding, announced in
January 2010 that work had been suspended but it would “continue to
be monitored and a decision will be made in the future when to
restart the project.”

The developer will now look for other options to get the project
underway, but will have no ties to Woods. The $1.1 billion Tiger
Woods Dubai project announced in 2006 was scheduled to open in
2009. The original plan for the 55 million-square-foot project
included 287 luxury villas and mansions, a boutique hotel and
clubhouse, according to ArabianBusiness.com.

Woods will now turn his attention to Diamante Cabo San Lucas in
Mexico, the fourth Tiger Woods Design project. The other three
courses — Punta Brava in Ensenada, Mexico; The Cliffs in
Asheville, NC; and Al Ruwaya in Dubai, United Arab Emirates —
were never finished or never opened to public play.