Intro:

Rory McIlroy reached an out of court settlement with his former management company in Dublin on Wednesday (4th February).

Script:

World number one Rory McIlroy was not in court on Wednesday as a settlement was reached with his former management company Horizon Sports Management.

A joint statement released by the parties read: "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,"

Terms of the agreement were not disclosed.

Conor Ridge, Horizon's leading agent, hugged and kissed his supporters in the public gallery after the announcement was made.

The four time major winner terminated his contract with Horizon in 2013 to form his own company.

McIlroy was suing Horizon and Ridge over the amount of money the firm was taking from his on and off-course earnings.

Horizon then counter sued, claiming McIlroy breached his contract and owed millions of dollars in commissions.

Despite their disputes, McIlroy and Horizon did not take long to reach a settlement, prefering not to do endure a potentially lengthy court case.