Rory McIlroy faces £1.2m bill if he completes career Grand Slam at the Masters

Rory McIlroy will be hit with a seven-figure tax bill if he wins the Masters to complete a career Grand Slam this weekend. The Northern Irishman has already won the US Open, the PGA Championship and The Open but has never tasted glory at Augusta National. He will be desperate to get over the line as he looks to end an 11-year wait for his fifth major title.

The prize money for the Masters is yet to be announced, but it is expected to remain the same as last year. Scottie Scheffler was awarded £2.8million in addition to his green jacket in 2024, meaning this year’s winner is likely to receive an identical payout. However, that figure will be slashed by almost half when tax is taken into account.

Paul Barham, head of international private client tax at Forvis Mazars, told Express Sport: “Any prize money earned will be subject to US federal tax, the top rate of which is still 37 per cent. Golfers will also have to pay state tax in Georgia at 5.39 per cent.

“The US tax will be paid by all the golfers playing at Augusta regardless of where they are tax resident and if they are a tax resident in the US, they shouldn’t pay tax on this prize money in any other country.”

If the prize money is unchanged from last year, McIlroy would need to pay just under £1.2m in federal and state tax if he wins the Masters. It would leave him with £1.61m in take-home pay, a reduction of 42.39 per cent from the original sum.

Given that McIlroy currently lives in Florida, he is considered a US resident which means he would not be subjected to further UK taxes.

George Cannon, who advises professional golfers in his role as private client tax manager at Kreston Reeves, also spoke to Express Sport.