Tiger Woods Just Walked Away From At Least $8 Million

Tiger Woods announced that he has withdrawn his name from consideration for the U.S. Ryder Cup team. In addition to costing Woods a shot to represent the United States he will also be forced to stop playing golf during a very lucrative part of his golf calendar.

Woods announced that he will not return to competitive golf until his World Challenge in Orlando, Florida, early in December.

That means Woods will also miss the America's Golf Cup in Argentina as well as at least two corporate exhibitions in Asia.

Woods was scheduled to partner with Matt Kuchar for the inaugural team event in Argentina.

A spokesman claimed that Woods would not receive an appearance fee for the event since it is being operated by the PGA Tour Latinoamérica. However, Bob Harig of ESPN.com reported that Woods was expected to receive "a hefty appearance fee," while Ewan Murray of The Guardian suggested Woods would have received $4 million for showing up.

It is unclear how many corporate exhibitions Woods was scheduled to play in. Woods' agent, Mark Steinberg confirmed to ESPN.com that there were multiple events.

Woods' recent history suggests he would have been paid at least $2 million for each corporate event.

Woods received $2 million to take part in a similar exhibition match in China last fall. Woods also received $3 million for participating in the Turkish Airlines Open around the same time.

That means Woods is walking out on at least $8 million with $4 million for playing in Argentina and $4 million for two corporate events. That number goes even higher if there were more than two corporate events.

That's a hefty pricetag for a sore back.