Tiger Woods, who entered the professional golfing ranks in 1996 at 21, was the first athlete to earn $1 billion. Woods earns a reported $100 million per year –and about 90% of his total income comes from endorsement deals.
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Tiger Woods to Hold Press Conference Friday
Photo: REUTERS/Matt Sullivan
After reports of his alleged affairs with several women surfaced, long-time sponsor Accenture dropped the troubled star from his $20 million contract. The company issued a release saying, “given the circumstances of the last two weeks, after careful consideration and analysis, the company has determined that he is no longer the right representative for its advertising. Accenture said it “wishes only the best for Tiger Woods and his family.”
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Tiger Woods to Hold Press Conference Friday
Photo: Accenture.com
Tag Heuer was among the sponsors who distanced themselves from Woods and the sex scandal that sent him into hiding. The company said in a statement it would scale back Woods’ role in its advertising campaign. The contract with Tag Heuer has been in place since 2002, earning Tiger a reported $5 million.
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Woods Offers Apology, Gives No Date for Return to Golf
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Tiger Woods to Hold Press Conference Friday
Photo: TAGHeuer.com
Nike, the sponsor Woods is perhaps most identified with, also stood by him and his reported $105 million contract. The company’s newest golf clubs, the Victory Red STR8-FIT Tour fairway will not carry the Tiger endorsement
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Woods Offers Apology, Gives No Date for Return to Golf
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Tiger Woods to Hold Press Conference Friday
Photo: REUTERS/Matt Sullivan
Gillette, which reportedly pays Woods $15 million to endorse its razors, said it supported his, “stepping back from his professional career and taking the time he needs to do what matters most.”
The company also said, “As Tiger takes a break from the public eye, we will support his desire for privacy by limiting his role in our marketing programs,” the company’s statement said.
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Woods Offers Apology, Gives No Date for Return to Golf
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Tiger Woods to Hold Press Conference Friday
Photo: Gillette.com
Gatorade, a Woods sponsor since 2007, said it would discontinue the Gatorade Tiger Focus, but said the decision had nothing to do with Woods’ marital issues. According to Beverage Digest, discussion on discontinuing the drink began on Nov. 25, two days before the car accident that sent Woods’ life into turmoil. Woods signed a 5- year deal with the drink maker in 2007 that was reportedly worth $100 million.
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Woods Offers Apology, Gives No Date for Return to Golf
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Tiger Woods to Hold Press Conference Friday
Photo: Gatorade.com
Woods has been a fixture on video gaming giant EA Sports games since 1997 and the golfer has a contract reportedly worth $8 million. On Jan. 4, President Peter Moore released a statement saying EA Sports will go forward with “Tiger Woods PGA Tour Online.” The company made the decision with the explanation that, “our relationship with Tiger has always been rooted in golf.”
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Woods Offers Apology, Gives No Date for Return to Golf
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Tiger Woods to Hold Press Conference Friday
Photo: ea.com
Woods was not so lucky in his relationship with AT&T, which announced on Dec. 31 it was terminating Tiger’s endorsement deal. Tiger had signed a multi-year, multi-million dollar deal with the telecommunications company just 10 months earlier.
Related:
Woods Offers Apology, Gives No Date for Return to Golf
Tiger Tees it Up for a Marketing Mulligan
Tiger Woods to Hold Press Conference Friday
Photo: REUTERS