Lee, the 18-year-old golfing sensation from Rotorua via Korea, has reportedly signed a $NZ17.55 million ($US10 million) professional deal with sports management giant International Management Group (IMG), with the deal described yesterday as money well spent.
In signing, Lee becomes one of the country's richest sportsmen, and joins countryman Michael Campbell, and Tiger Woods in the IMG stable.
Promoter Bob Tuohy, who promotes the New Zealand Open, said Lee was a wonderful talent, and the confidential deal would be tied to incentives.
"It is money well spent and is a great investment. This kid is a hell of a talent."
Tuohy said part of the deal would include contracts with golfing equipment companies, tournaments and tours.
"There will be incentives on winning certain tournaments and winning majors but in the short, medium or long term he is lined up to get that money."
Tuohy said in the present economic times it was great for Lee to get such a contract. He only hoped Lee did not forget his roots and continued to support events such as the New Zealand Open.
New Zealand Golf chief executive Bill MacGowan said New Zealand Golf would not see any of the money Lee was receiving, but the organisation was not upset about that.
"It is our job to get the best amateurs and groom them to turn professional," MacGowan said.
"We know that right from the start. Other golfers, like Mark Brown and Tim Wilkinson, are exactly the same."
He said only Sir Bob Charles and Michael Campbell had schemes which put money back into junior golf but golfers had no obligation to support any scheme.
MacGowan could not estimate how much money New Zealand Golf had put into Lee but said it was considerable.
But there had been worldwide media inquiries about Lee and that was only good for New Zealand Golf.
He said Lee had made both public and private commitments to play under the New Zealand flag, and he saw no reason why he would not do that.
Lee was born in Korea but moved to New Zealand when aged 8.
Lee ended a glittering amateur career at Augusta National last Friday, missing the cut at the Masters after carding a disappointing 11-over par tally over two rounds.
He joins the professional ranks with the US Amateur and Western Amateur titles to his credit, and the Johnnie Walker Classic trophy he captured in Perth in February when he became the youngest winner of a European tour event.
MacGowan said Lee's deal was confidential but the $US10 million quoted was not wide of the mark, and similar to fees secured by other promising golfers.
By signing with IMG, Lee has given up his berths, as an amateur, for this year's British and US Open championships, gained after winning the US Amateur title.
MacGowan said the loss of Lee to professional ranks was not a sad day for New Zealand Golf and there were one or two promising golfers coming through.
