The golfer has announced that he will be stepping out “indefinitely” from the game that has made him billions of dollars, after a string of his extramarital affairs came to light.
December 16, 2009 4:16 by kippreport
According to Forbes magazine, Woods made $110 million in 2008, three times more than his closest competitor. A lot of that money came from his corporate partnerships with companies like Accenture, Electronic Arts, Gatorade, At&T, Tag Heuer and Gillette. Nike, his main sponsor, pays him around $35 million per year, says Forbes.
According to the BBC, he signed a five-year deal with Gatorade in 2007 for an estimated $100 million. The soft drink brand recently said that it is axing the Tiger Focus drink made a few months ago, but added that it was not because of his recent scandal.
However, the scandal did affect some of his other partnerships; consulting company Accenture ended its six-year deal with him, saying he was “no longer the best representative” for its advertising. Gillette has said that it would remove its Woods-related advertising for now, and AT&T issued a statement saying “We are presently evaluating our ongoing relationship with him.”
Nike has however stood by him. “Tiger has been part of Nike for more than a decade,” the company said in a statement. “He is the best golfer in the world and one of the greatest athletes of his era. We look forward to his return to golf. He and his family have Nike’s full support.”