How Much Money Did Tiger Woods Lose

Woods was left scratching his head when $50 million in deals ended.

Forest was left scratching his head when $fifty one thousand thousand in deals ended. Lucas Dawson/Getty Images

By Barry Janoff (Correspondent)

As recently as 2008, Tiger Woods was pulling in $110 meg in endorsements from companies that included Gatorade, AT&T, General Motors, Gillette and Accenture, far and away a green's distance from the coin existence earned by the likes of LeBron James, Kobe Bryant, Peyton Manning, David Beckham and Dale Earnhardt Jr.

Only when his private life became a public scandal, marketers fled Woods as if he had a social disease to the melody of $l one thousand thousand in deals, basically screwing him more than the laundry listing of women who claimed a personal relationship with him.

Woods further damaged his value when he failed to win a unmarried tournament in 2010.

Wood is playing his first tournament of 2011 this weekend at the Farmers Insurance Open up at Torrey Pines in San Diego. But Gatorade, AT&T, General Motors, Gillette and Accenture are gone, and $50 one thousand thousand in deals is being spent elsewhere.

Jim Furyk, the PGA Tour Histrion of the Yr, is now picking up the pace in endorsements among companies looking to connect with a lucrative golf consumer. Through the commencement three weeks of 2011 alone, Furyk has signed deals with Westin Hotels, RBC Bank and Sungard IT services, adding to a roster that includes Johnnie Walker and Marquis Jets.

Furyk takes in virtually $11-$xiii million in endorsements, inching him a chip closer to Wood and veteran golfer Phil Mickelson, who makes about $52 meg from marketing deals only whose value has peaked.

To be fair, GM ended its deal with Woods, about $10 million per year, in 2008 because of the automaker'south own fiscal crisis, which also saw the company pull ads from the Super Bowl and Oscars.

Later on the scandal broke, GM put the brakes on Wood' terminal perk, free cars, and so used the advertising and endorsement dough it saved to help stabilize itself. On Feb. 6, for case, GM will be advertising during Super Bowl XLV for the showtime fourth dimension in two years.

Gillette concluded its deal with Woods in December, also valued at about $10 meg a year, and immediately rebuilt its "Immature Guns" marketing campaign, which this year will feature Matt Ryan, Evan Longoria, Denny Hamlin, Kyle Busch, Carlos Gonzalez and Ray Rice.

PepsiCo's Gatorade dropped its Woods signature line, Tiger Focus, in 2009 and then dumped the golfer altogether in early 2010. Not coincidentally, the sports drink completely redesigned its flagship brand into the three-product M Series, while enhancing alliances with such athletes as Manning, Sidney Crosby, Kevin Durant, Dwyane Wade and Serena Williams.

Amongst the companies that remained loyal to Woods, EA Sports has continued to release new products and marketing featuring the tainted golfer. Merely fifty-fifty here, with the Tiger Woods PGA Bout video game franchise, which has sold more than than 27 meg units worldwide since being introduced in 1999, the ties are more tenuous.

Last year, Tiger Forest PGA Tour 11 saw for the commencement time Woods reduced to sharing the game comprehend (with Rory McIlroy). This yr, Wood' epitome was totally gone from Tiger Wood PGA Bout 12, replaced past images touting EA'southward new bargain with The Masters Tournament.

Woods has as well screwed many of his fellow athletes. His situation was a catalyst for Madison Avenue to spend less ad money on active players and more than on retired stars, whose images and reputations are non only ingrained with consumers but are much less likely to be tarnished. Amid them, Andre Agassi, Wayne Gretzky, Joe Montana, Kareem Abdul-Jabbar and Karl Malone all have scored marketing deals over the past few months.

Will Tiger e'er return to the adept graces of marketing? Most likely, considering that Michael Vick, Ray Lewis and Kobe Bryant, each of whom has been associated with image-shattering personal situations, are once more making money via endorsements.

For now, Woods probably could lose more than deals before new companies sign on. He as well gets to hang with Ben Roethlisberger, who could earn a 3rd Super Bowl ring but whose dubious hands-on situations with women are causing marketers to continue their easily off him.

You can contact Barry Janoff via editor@NYSportsJournalism.com or http://www.NYSportsJournalism.com

Source: https://bleacherreport.com/articles/588195-tiger-woods-sexploits-cost-him-50-million-but-where-did-the-money-go

Posted by: judemisaid.blogspot.com