Sponsors drop Tiger as golfer announces hiatus
VIDEO - It's another blow to Tiger Woods and his endorsement empire estimated at one billion dollars. On Sunday, global consulting firm "Accenture" said that it will "not" continue its agreement with the golfer...
It’s another blow to Tiger Woods and his endorsement empire estimated at one billion dollars.
On Sunday, global consulting firm “Accenture” said that it will “not” continue its agreement with the golfer.
It’s a six-year relationship that now appears over.
“Accenture” said Sunday that it’s cutting ties with Tiger Woods, saying that he’s no longer the right representative for its advertising.
The announcement came a day after a quote “time out” by “Gillette”.
That company said its honoring Woods’ wish for privacy by phasing him out from ads.
“I think Gillette really has no choice in the matter but to limit Tiger’s profile, considering how egregious this whole situation has been,” said advertising executive Howe Burch.
Now the question is: will the golfer’s slew of other sponsors follow suit?
“It’s always said when some company drops him, it’s easier for another. But it comes down to the business,” said CNBC analyst Darren Rovell.
The most recent sponsor pull-outs came shortly after Tiger’s weekend admission on his website, where he referred publicly to his “infidelity.”
“This isn’t about Tiger being the perfect golfer, but in the way they were using him for advertising, it was Tiger being the perfect man,” Rovell said.
With Woods taking an indefinite hiatus from golf, the PGA stands to lose its prized star.
“The PGA tour is in a tough spot. Woods increased ratings, exponentially,” said Rovell. “This is a fall that we may never have seen before, not in sports, not in history.”
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