Rory Mcllroy has severed ties with his Dublin-based management company and has set up his own company to run his affairs, according to Yahoo Sports.
Mcllroy announced on Friday that he will no longer be part of the Horizon Sports Management stable and the acrimonious nature of the split has resulted in both parties calling in a team of lawyers to oversee their interests..
The dispute comes on the heels of a frustrating season for the 24-year-old from Northern Ireland, as he's struggled to regain his form after switching to clubs manufactured by Nike as part of one of the biggest endorsement deals in sports.
Mcllroy told Yahoo his new management company will be known as Rory Mcllroy Incorporated and will be headed by Donal Casey, an actuary who was already one of his advisors. His father, Gerry, will also serve on its board of directors as will businessmen and family friend Barry Funston.
Horizon told Yahoo company executives are disappointed Mcllroy had elected to end their relationship after just two years and with several years remaining on the contract they originally signed.
While no details or reasons were given for the split, Yahoo reports rumors of Mcllroy's unhappiness over what he perceived to be too high charging services have circulated for several months.
"Since October 2011, Horizon has achieved exceptional results for Rory in realizing his commercial objectives," the company said in a statement. "Under Horizon's management, Rory has signed some of the most lucrative endorsements in sports history."
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