Tiger Woods Loses Sponsorship
Tiger Woods has just lost the first of his many endorsements following the backlash of his cheating on his wife Elin Nordegren.
Accenture released a statement on Sunday saying that they have dropped the golf player from his six-year contract with them following the controversy of the past few weeks. The statement read…
For the past six years, Accenture and Tiger Woods have had a very successful sponsorship arrangement. His achievements on the golf course have been a powerful metaphor for business success in Accenture’s advertising. However, 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.”
In response to this Mark Steinberg, an agent for Woods, said “we are disappointed but respect their decision. That is all I have to say to you.”
While Accenture are the first company to drop him, they aren’t the first company to distance themselves from him. Gillette have decided to to remove him from all advertisements and have hinted that they are going to completely get rid of him soon.
Damon Jones, a spokesman for the company, went on radio and said “who knows what will happen in the future? We’re not speculating.’(But) our actions are clear. We have a brand ambassador who we have said is no longer going to appear in our advertising.’That is a pretty clear statement about where we are going. Actions speak louder than words.”
AT&T have said they are still evaluating on what to do with with Woods, Tag Heur have also removed him from all adverts that are in their stores. As for Gatorade, another of his endorsements, who are owned by Pepsi they too have dropped a drink he was endorsing although they are saying ti was unrelated to his cheating scandal.
The golfer shouldn’t cry too much just yet though because his main sponsors, Nike and Electronic Arts, have decided that they are standing by him and have offered his their “full support.”
It has been estimated that Tiger Woods earns an estimated $110 million a year in his endorsements. What company should I make a bet on that will drop him next?
source: Tiger Woods Loses His First Sponsor [People]
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