Top-ranked golfer Rory McIlroy has reached an out-of-court settlement with his former management company, ending their multi-million-dollar case after just two days.

Both sides say in a joint statement on Wednesday “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”.

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Terms were not disclosed.

McIlroy terminated his contract with Horizon in 2013 to form his own company.

The Northern Irishman was suing Horizon and its leading agent, Conor Ridge, claiming he was misled into signing the contract.

Horizon was counter-suing, claiming McIlroy breached his contract and that he owes the company millions of dollars in commissions.