GM Broke It Off With Tiger Woods Even Before it Became Fashionable
December 10, 2009

The personal and business fallout for his "indiscretions" continues for professional golfer Tiger Woods, as a variety of companies and organizations do the damage-control two-step to the certain detriment of "Woods Inc.'s" bottom line.

But at least one former corporate sponsor managed to avoid having to be in the position of judging Woods as his personal life becomes a tabloid bonanza: General Motors Co. Owing to its shaky finances, GM had to cut loose Woods and his big-bucks contract nearly a year ago.

For the nine years prior to parting ways with Woods at the end of 2008, GM reportedly had paid the golfing phenom a heady $8 million per year to be a spokesman for the Buick brand. That had to stop -- leading up to its federal bailout and eventual bankruptcy, GM jettisoned everything with the appearance of extravagance, from corporate jets to corporate golf spokesmen.

Ironically, Woods said at the time he also was amenable to cutting his ties with Buick in order to have more personal time with his family; Woods' wife was at the time expecting the couple's second child.

In the two weeks since Woods' alleged multiple infidelities first became public knowledge, television ads featuring Woods have stopped and one major sponsor, Gatorade, has discontinued a Woods-connected product line.

As GM headed into deeper financial straits, skeptics questioned the relevancy of Buick's expensive sponsorship deal with Woods, particularly when, under Buick sponsorship, he more than once opted not play at the brand's own annual golf tournament, the 51-year-old Buick Open in Grand Blanc, Michigan. Woods did play -- and won -- the tournament in 2009. It was his third Buick Open win.

Photo by GM

Posted by Bill Visnic at 8:10 AM under Business , GM , In the Media , Personalities | Comments (2) | digg this | Seed Newsvine

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