Tiger "Probably Overpaid" Elin; $100M Pact?

Tiger Woods and Elin Nordegren announced Tuesday that they'd officially called it quits. The word came nine months after the car accident that led to reports surfacing that Woods had been cheating on his wife. They'd been married six years.

Pictures: Forbes Most Powerful Celebs
Pictures: Most Shocking Scandals of 2009
Pictures: Celebrity Splits
Pictures: Tiger Woods

Woods and Nordegren plan to share custody of their children, 3-year-old daughter Sam and 19-month-old son Charlie. They're each said to have completed a four-hour parenting course.

CBS News correspondent Ben Tracy reported on "The Early Show" Tuesday that Woods, a notoriously private person, has said little about the status of his relationship with his wife. However, the two have apparwently been living separate lives for months now.

Tracy said that, in court documents filed Monday, the two say their marriage is "irretrievably broken" and Elin Woods asks that her maiden name, Elin Maria Pernilla Nordegren, be restored.

In a joint statement, Woods and Nordegren said, "We are sad that our marriage is over and we wish each other the very best for the future."

Court documents show the two reached a settlement in early July. The terms are unknown, but Elin is expected to get about $100 million, says celebrity website TMZ.com. The two reportedly revised their prenuptial agreement after the scandal broke.

Since then, Woods has lost an estimated $18 to $25 million in endorsements and spent two months in sex rehab, Tracy said..

Celebrity divorce attorney Raoul Felder remarked on "The Early Show" Tuesday that Woods was in "Desperateville" when he was making deals with Nordegren's lawyers.

"He probably overpaid," Felder said. "I would judge (the amound Woods agreed to hand over at) anywhere from $100 million to almost $500 million."

"Early Show" co-anchor Erica Hill asked, "So $100 million is the low end?"

Felder replied, "Because he was desperate. July 4th, he signed a post-nuptial agreement. Then he went into rehab for two months and for an illness that half of America hopes they would have, I guess. And then he tried this ridiculous press conference that didn't work. And then the golf wasn't working. So this is the only thing left."

Felder said it's "kind of late to resuscitate the patient," but he added that he would have advised the golf star, "(to) immediately hold a real press conference and kill it."

"He is paying for confidentiality," Felder said. "That's something you can never get at any price. ... It never works. The cousin tells the brother in law and all of a sudden it's there again. The only pray you have is you stagger payments. But no woman wants staggered payments. So I think he's had it. He's in Desperateville. He the best he did the best thing he could. But it's not going to work."

Hill pointed out that Nordegren clearly had the upper hand since their relationship began to unravel just before Thanksgiving last year when Woods crashed his car outside the couple's Florida home -- and women began coming out of the woodwork.

Felder agreed, saying, "She had him by the throat. I mean, girls were coming over like a bakery, 'take a number,' you know, 'next girl.'"

But what about the pre-nuptial agreement between the two? Felder says it was likely rewritten, but didn't work to salvage the marriage.

"Pre-nups matter, but this was a very unusual situation," he said. "He had to stop this hemorrhaging that he was having, and so he killed the pre-nup and made it much more rich. But it didn't help."

Woods and Nordegren's children are also caught in the middle of the divorce.

Felder explained, "You look at the statement: We love each other. We love the kids. Here's the translation: We hate each other. We wish you'd drop dead by Thursday and all that stuff. But having said all that, kids are the victims here. Particularly here. Everybody knows about their folks' divorce. Kids at school, the parents, boyfriend, girlfriends."

The one silver lining in the divorce?

The lawyers get paid, according to Felder.

Hill pointed out Nordegren had up to eight lawyers.

"It was the best thing for lawyers since the Magna Carta," Felder joked, adding, "One of them was a cousin. She even had the family on payroll."

Tracy reported Woods is expected to play a tournament at the Ridgewood Country Club on Thursday, but though he's back on the course, he's clearly off his game.

David Dusek, deputy editor of Golf.com, told CBS News, "His worst golf performance ever as professional was a couple of weeks ago in Akron, Ohio. He finished 18 over par. It's all been a mental problem for Tiger Woods in 2010."
  • CBSNews

Comments