Friday, July 2, 2010

Forget LeBron James, Elin Nordegren Is The Biggest Free Agent

It has been confirmed that Elin Nordegren, the wife of golf great, Tiger Woods would received up to $100 million dollars in her divorce with Woods. The stipulations that come with this amount is that she can't write a book about her ordeal nor can she speak with production companies to make a movie. If you had these stipulations would it deter your decision to divorce your philandering husband? Be honest here folks. If you answered no, then you're like me in which we're mentally thinking of ways for Elin to double that money and make it stack. She can invest in the modeling industry from which she came, she could open a foundation for children in her hometown of Sweden in which this would be a tax write off. In any case the loss of royalties from a book and movie deal don't compare to the countless projects she could embark on to have her funds increase. But, as I sit here and write, I can't help but wonder "who's side am I on?"

I'm ambivalent to this amount because I don't know which side to choose. I feel for Elin because it's hard enough dealing with a cheating partner in private let alone with cameras following you around. The embarrassment and hours of wearing dark sunglasses to hide your pain entitle you to compensation as well as the sanity of your children as they deal with two different addresses. But, the Economist in me can't help but slap Tiger because homeboy once your value hit $100 million, you and your advisers should have had that money under lock and key. When the marriage happened, the prenupt should have been ironclad. No loopholes, no fine print, no hidden clauses, just straightforward sentences. Trying to appease your partner for less tantrums doesn't pay in the end as we see because Elin is sitting back and saying "Well Ms. Nordegren, mission accomplished. Job well done".

I think I'll close with a lesson for aspiring athletes and the women they decide to marry. Athletes, once your value hits the triple digits, constantly call your financial advisers and make sure your money is right. And, once you're married, don't dilly dally with your prenupt because when things hit the fan and it's time for a divorce, an unclear prenupt results in biased results for the wife with the child.

XOXO,
Whitney

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