Tiger Woods Losing His Endorsement Deals
The recent whirlwind of scandals that have plagued celebrated golfer Tiger Woods have left a destructive trail in their wake. These include the recent pullouts of endorsements from major corporate sponsors, from Accenture and Gillette to Gatorade. Accenture was the first corporate sponsor to cut ties with Woods two days after he announced plans to take time off from golf to focus on his family and marriage.>
“After careful consideration and analysis, the company has determined that he is no longer the right representative for its advertising,” a spokesman for the company said. Gillette followed suit, announcing that it was phasing Woods out of its advertisements. Gatorade has also discontinued its Tiger Focus product, which they named after the golfer. However, the company revealed in a statement that the decision to discontinue the product was made months before the scandals involving Woods and several other women broke out.
Tag Hauer, a Swiss watch company has also pulled out posters of the golfer endorsing their watches from 100 stores in Australia, although they, too deny that this action had anything to do with the recent scandals. They have also confirmed that their contract with Tiger Woods has remained unchanged.
However, despite other sponsors clamoring to distance themselves from the embattled golfer, Nike continues to stand by him, as stated in a press release by the company: “Tiger has been part of Nike for more than a decade. 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.”
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