By David Blevins, Ireland Correspondent
Golfer Rory McIlroy and his former manager have reached a settlement in their multi-million pound legal dispute.
It means the 25-year-old world number one will be spared cross-examination in Dublin High Court.
Talks continued for seven hours after Mr Justice Cregan postponed the opening of the case overnight when he was told lawyers for both parties were making progress on issues.
McIlroy was suing his former management company for £4.5m, alleging he was coerced into signing an "unconscionable" contract at a Christmas party.
Horizon Sports Management was counter-suing him for £13m, alleging breach of contract and unpaid fees for negotiating some of his lucrative sponsorship deals.
At the start of 2013, McIlroy signed a deal with Nike worth $100m (£65m) over five years.
in a joint statement, the two sides said: "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."
The terms of the settlement were not revealed.
The dispute had rumbled on for 18 months and a previous attempt at arbitration proved unsuccessful. With legal costs included, the lawsuit had run to an estimated £40m.
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Gallery: A Look At The Rise Of A Golf Prodigy
Born in Holywood, Northern Ireland, a young Rory McIlroy was introduced to golf by his father. He won the 2003 Ulster Boys Championship at 13 and the European Amateur title in 2006
In 2007, at the age of 17, McIlroy won the trophy for best amateur player in the 136th British Open Golf Championship at Carnoustie, Scotland
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