Woods Scandal Costs Img £3m

The revelations surrounding Tiger Woods and his private life has reportedly cost his management company IMG £3m in fees.

The golfer lost a number of sponsors as he admitted infidelity including General Motors, AT&T, Accenture and Gatorade.

IMG charges its clients between 15 and 20% on endorsement deals it secures – meaning that if it lost £3m, Wood’s himself must have lost a vast amount more.

Despite the impact of his adultery scandal Woods remains the richest athlete in the world according to the second annual ‘Fab 40’ list released by business magazine Forbes.

Last year, IMG said it grossed £513m from its sports and entertainment division, which includes representation, sponsorship sales and event management.