Gm Ends Long-running Woods Deal
The impact of the recession on the automotive industry has begun to affect its investment in sport with the news that General Motors has ended its long-running sponsorship deal with world number one golfer Tiger Woods.
GM announced that it was terminating its nine-year endorsement deal with Woods with immediate effect due to a need to reduce costs as well as the fact that the US star wanted more personal time to spend with his impending second child.
Woods has endorsed GM products around the world and mainly has been seen in Buick commercials as the company tried to give the nameplate a more youthful image.
Woods has also carried the Buick brand on his golf bag since 2000, and his most recent promotion was to caddie for a contest winner for nine holes at Torrey Pines, where Woods won the US Open this summer for his 14th career major.
The endorsement deal, believed to be worth at least $7m a year, was officially due to end in 2009.
Woods has carried only two logos on his bag since he turned pro in August 1996. He was with Titleist through until 1999 before Buick won a bidding war for its brand on the world number one’s bag that gets more exposure time at tournaments than any other golfer.
Woods has not played since season-ending knee surgery after winning the US Open, and he is not expected to return until next year, most likely in early March depending on his recovery.
