Tiger Woods Controversy and His Contract Ending

8/8/2019 Tiger Woods Controversy and His Contract Ending

1/13

TIGER WOODS

ISSUES

&HIS CONTRACT

ENDING


2/13

INTRODUCTIONINTRODUCTION

y Tiger woods (born December 30, 1975) isan American professional golfer whoseachievements to date rank him among the

most successful golfers of all time.y Currently the world no. one

y He was the highest paid professionalathlete in 2008, having earned anestimated $ 110 Million from winningsand Endorsements.


3/13

ACHIEVEMENTSACHIEVEMENTS

71 PGA tour wins (third of all time).

38 European tour wins

2 Japan golf tour wins

1 Asian tour win.

15 other professional wins

21 Amateur wins

14 wins in professional major golfchampionship(the second highest of anymale player.


4/13


5/13

ENDORSEMENTENDORSEMENT

y Wood has been the words most

marketable athlete.

y Tiger Woods began Signing endorsement

deals with numerous companies from the

years 1996


6/13

SOME OF THE MAJORSOME OF THE MAJOR

COMPANIES ARE:COMPANIES ARE:--y General motors

y Titleist

y

General millsy American Express

y Accenture

y

Nikey AT & T


7/13

CONTD..CONTD..y 1999:-Woods endorses the tiger wood PGA tour

series of video games

y 2000:- Signed 5 years deal of $105 million deal with

nike. It was the largest deal ever signed by an athlete at

that time.

y 2002:- signed a deal with General motors and wasinvolved in every aspects of launch of its Buicks

Rendezous SUV

y 2004:- The deal was renewed by Buick for 5 years. The

deal was estimated to be worth of $40 million.y 2005:- April 2005 Woods Collaborated closely with TAG

Heuer to develop the world first professional golf watch

y 2006:- ;He signed a 6 year contract with electronic arts


8/13

CONTDCONTD

y 2007:- In feb. 2007 along with Roger Federer andThierry Henry Woods became an ambassador forthe Gillette Champions. The deal was estimatedto be between $10 million and $20 million.

y 2007:- In oct. 2007 Gatorade announced thatWoods would have his own brand of sports drinkstarting in march 2008. Gatorade Tiger was thefirst US deal with beverage Company and his first

licensing agreement.It was disclosed that it was 5year agreeement and could pay him as much as$100 Million.


9/13

ESTIMATION ABOUT WOODSESTIMATION ABOUT WOODS

FINANCIAL STATUSFINANCIAL STATUSy According to golf digest , Woods made $769,440,709 from 1996 to 2007 and the magazinepredicted that by 2010 Woods would pass onebillion dollars in earnings

y

In 2009 forbes confirmed that wood was indeedthe words first athlete to earn over a billion $before tax, after accounting for the $10 millionbonus Woods received for the Fed Ex Cup title

y In the same year Forbes estimated his net worth

to be $600 million making him the second richestafrican american behind only Oprah Winfrey


10/13

Married lifeMarried life

y In november 2003 woods got engaged to

elin nordegren having two children from

her name sam,charlie


11/13

ISSUESISSUES

y On 25 november 2009 super markettabloid the national inquirer publishing astory claiming that woods had an

extramarital affair with night club managerrachel uschitel since then various newsabout the extra maritial affair of woodshave come out. On april 29 2010 it was

reported that wood had confest that hehas had 120 affair


12/13

Contract endingContract ending

y On dec. 11 gillette suspended advertising featuring woods and saidthey would not be hiring him for any public appearance for thecompany.

y On dec 13 management consultancy firm accenture completely cutits sponsorship of woods

y On dec 8 2009 nielson indicated that advertisers had suspended t.vadds featuring woods after the news of extra marital affairsemerged

y On dec. 18 TAG Heuer dropped woods for the foreseeable futurefrom its advertising campaigns.

y On Jan 1 2010 AT&T announced the end of its sponsorship ofwoods

y Jan 13 general motors ended a free car loans deal that had beendue to end on dec 31st 2010

y On 27th feb. 2010 energy drinks gatorad ended its sponsorshipwith woods


13/13

Study done by economistStudy done by economist

y On dec. 2009 study by christopher R

Knittle and victor stango economics prof.

at university of california at

DAVIS,estimated that the shareholdersloss called by wood extra maritial affair to

be between $5 billion and $12 billion

Documents

Tiger Woods Controversy and His Contract Ending