Now the Tiger Woods Story Shifts to One of His Dollars
by Ryan Ballengee on Dec 13, 2009 5:58 PM EST
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PrintWhen Tiger Woods announced on his website Friday evening that he was taking indefinite leave from the sport of golf, it was official that the other shoe was going to drop on this story. The financial shoe.
And I'm not talking about the reported $150,000 that Jaimee Grubbs got from Us Weekly, whatever Rachel Uchitel got to keep quiet, or even the supposed mammoth divorce settlement that Elin Nordegren could receive if she chooses to terminate her marriage to Woods.
I'm talking about the impact on Tiger's wallet from his sponsorships, reported to be valued in excess of $100 million per year.
On Saturday, Gillette said that they would be removing Tiger from their advertising indefinitely, supposedly coinciding with Woods' self-imposed indefinite suspension. Who am I kidding? Elin imposed the timeout. And Gillette is not kidding anyone by thinking that they'll hop right back on the Tiger Express when he returns to golf. The cargo that train is carrying is as toxic as Three Mile Island.
Today, mega-consulting company Accenture bailed on Tiger as their pitchman. It's an awful hard sell to use the slogan "go ahead, be a Tiger" after what we have learned about Woods' off-course life. So long to those delightfully hilarious airport ads featuring Woods.
I'll be sure to take one last look at them as I drink from my stock of Gatorade Tiger Focus before I fly to Dallas tomorrow evening to go to Nike's golf facility. I can only imagine what the mood is like there.
AT&T, a Woods supporter since 2007 and longtime sponsor of the PGA Tour, has politely said that they're having second thoughts about Woods also.
It would not be surprising for Woods to lose all of his non-golf sponsorships. All of them. Woods could have nothing but his name on his bag when he returns to pro golf. And even that he may want to consider taking off of the bag.
Through the course of Tiger's career, he has made close friends with Michael Jordan and Charles Barkley. They're both notorious for big stakes gambling in Vegas. Tiger has reportedly taken an interest in that kind of gambling as well.
But Woods was making a way bigger gamble with his personal life. Tiger should be intimately aware of the saying that the house always wins. After a huge run against his house of sponsors and public image, everything is slipping away from Woods.
He had to know somewhere in the back of his mind that this two-face charade could not continue in perpetuity. Whatever the number of women is, one was bound to squeak. Turns out that after one did, many others wanted to as well. They wanted their 15 minutes of fame, their payout, and to get a little bit of payback for some of their thinking that Tiger truly was interested in a relationship with them - even if it had to be incognito.
Woods is going to lose money in current and future sponsorships. If he loses his marriage either in the near or long term, it will cost him three to four times his current annual endorsement salary.
Was it financially worth it? Nevermind the moral implications for what Woods has admitted to, but the dollars that he conceded to live this life of his is incredible. Even with pictures in the wallet, a man can forget his family. But it is very easy to see when the greenbacks are missing.
The greenbacks could even be missing beyond his wallet. The PGA Tour is going to face a difficult year of renegotiating sponsorship deals for a large chunk of their schedule. Now even events that are normally on Tiger's schedule may not be able to appeal to sponsors because an association with the world number one is currently worth zero.
Saturday Night Live spoofs the PGA Tour's sponsor problems
Despite that, there will be sponsors who want their name broadcast into millions of homes as Tiger will be more compelling that ever. Woods' professional response to his out of whack personal life will be the kind of human drama that Hollywood only wishes to manufacture. The best golfer in the world will return to the sport lighter in the wallet and with a murkier image. And the outcome will ultimately be where this story ends.
So for the many in the public that are sick of this story, it's only just beginning. Sure, the constant barrage of updates surrounding this one person will slow. But the ending of the story will not be known for years. What we are learning right now, though, is that Tiger Woods may have been better off being more clearly human while the cameras were on because it would not have cost him so dearly for people to learn what this human is like when they're not in sight.
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Gillette, Gatorade, Accenture
Ryan,……good article.Unless one has the IQ of a snail, this had to be expected. Watch the flood gates open now. I suspect only Nike will stick with him. They can afford his image to a degree. No surprises here at all. …………………Z.
you're still away,...choke on it !
So reserved.....
Tell us, do you have a dart board with Tiger’s picture on it, or maybe a Tiger Woods voodoo doll? Good to see you calmed down a bit.
Ping
Nope, no dart board or voo-doo doll. He’s hardly worth the effort. I do however have a dozen Pro’V1’s with Bozo the Clowns face on them. Reminds me of the village idiot Macer. Notice how he’s jumped off the Woods sinking boat. That’s what’s so gratifying about this. All the suck-ups who thought this guy was soooo squeaky clean and could walk on water. They simply wouldn’t hear anybody posting to the contrary. We were all haters, racists or morons. Well,…I guess the truth coming out has crushed their house of cards. Golf will be fine with or with-out Woods. I’m sure nobody’s gonna sell the clubs and quit over a spoiled super-star getting taken down to where he belongs. The game is bigger than any one player, as all the suck-ups have found out………………….Z.
you're still away,...choke on it !
Is that Arizona weather as good as they say????
Golf will be fine, no question. PROFESSIONAL golf will take a hit. Maybe in the short term but a hit never-the-less, at least if you believe what some of the pros are saying. Mind you golf wasn’t on its way to oblivion before Tiger, but it wasn’t growing. Declining purses or loss of sponsorships won’t effect you or me a whit, those select few in the top 1O, they’re not likely to feel it either. But those “journeymen golfers”? There’s a good chance they’ll miss a payment on their vacation home. I must take exception with “we are all haters, racists or morons”. I can’t see myself in any of those categories… Now if you’d included shi**y golfers…No argument there. I don’t think I’m alone in saying I’d have given a “nad” to be able to play well enough to make playing golf a career. The best I could do was tending the grass…… I know you’’re not inclined to listen to anyone, but try at least to let this Tiger bashing go. He’s fulfilled every negative view of a professional athlete, we all know that. You get the big “I told you so!” Isn’t that enough? There are times when I’m feeling low I remember rounds of golf I played. Golf holds a very special place in my life. Back in the early 80’s my wife and I had a teacher’s discount for a weekend at Biltmore… It was in JULY! I played the Adobe course. I’d buy you a drink to have a chance to tell you about it….. Once again Merry Chrsitmas.
Ping
The Biltmore Adobe,…IN JULY ! You are one tough hombre, amigo !… Ya, I hear ya about pro golf taking a hit. But it will survive long term. It did ok before TV, before Palmer and Jack and Woods. It’ll be fine. I include myself as sh!tty golfer , but I had a blast giving it a shot. Ping, I’d love to share a JD and listen to your tale sometime. You’re ok with me dude. Merry Christmas to you and yours……………….Z.
you're still away,...choke on it !
Not a tough hombre, a poor one...
OK maybe “poor” is an overstatement. But It wasn’t in my budget to stay at the Biltmore during peak tourist season which you know ISN’T July. I wrote a comment over at Easingwold’s fan post about suriving, take a look. I think your correct, in the long term, golf will be fine, but that Assistant Pro who’s folding sweaters may wonder about making a house payment….in the short term. Maybe that’s why the word “scary” is being bandied about…
He will def not have a problem making cash. It’s just an interesting business story – and an interesting personal decision. I mean, could he have made these mistakes knowing that he has more than enough money to handle any mistake?
Find me! Email: ryan@thegolfnewsnet.com, Twitter: http://twitter.com/waggleroomryan, or Facebook: http://facebook.com/waggleroom.
by Ryan Ballengee on Dec 13, 2009 11:08 PM EST reply actions
Where the rubber meets the road....
Sure, Tiger’s got plenty, but can he continue to support himself and his family in a style to which they’ve become accostumed?
And then some
They already have any material thing they could want Ping. Just shows money can’t buy happiness.
maybe in a costume ping LOL
He won’t ever be broke by any stretch, but I think his LIFESTYLE will take a big hit in more ways than one. I’m told by various sources that his Isleworth home will be on the block soon and not due to $$$ issues but for bad memory reasons..
"pain is only weakness leaving the body"
I know that the people involved in a contract can agree to do with anything they want with it – but what is the possibility that Tiger will allow these companies, or the companies will allow Tiger to suspend their agreement for a period of time to see how things go for him ?
"this ball will fit in that fairway"
I was thinking about this last evening, and it may be that suspending the endorsements – all of the endorsements – may be the best course of action for all parties involved, Tiger included. Hard for someone of his stature to fully disappear, but laying as low as possible for a few months won’t break Tiger – or Nike, for that matter.
"...it is well to remember that to miss a putt is not a criminal offense and does not prevent a man from being an excellent husband, father, and citizen." - Bernard Darwin
by turnover on Dec 14, 2009 9:48 AM EST via mobile up reply actions
Contract Terms
I think those contracts may have contained some kind of “code of conduct” requirment. Just a guess on my part, but these are very common now-a-days. I know the NHL has it in the standard players contract. They don’t seem to have a lot of bad actors in that league. Anyway,..just a guess on my part. Perhaps somebody has some factual info on this. Advise.
you're still away,...choke on it !
no doubt on the “morals clauses” in contracts these days – but those clauses are usually there for use at the discretion of the company. Tiger is still the biggest name in the game. I’m just wondering if these endorsers want to completely sever ties with him or just get a little breathing room while he decides what he wants to do.
"this ball will fit in that fairway"
Court......this whole thing
stinks so bad, a little “breathing room” may be needed. As the endorsements continue to fall or be put on hold, Tiger will comprehend the enormity of his actions. I believe he always thought he was bullet proof and his actions consequences could be controlled…..wrong! ……… Who Dat!
I’m betting that part of it has to do with not wanting to endorse someone who is essentially in hiding for an unspecified period.
When he comes back, I don’t know if any of the ones that have dropped him will pick back up, but that will be the sign as to whether their decisions are moral or whether they just want to get as much non-controversial Tiger in public face time as possible.
by Double Eagle on Dec 14, 2009 2:07 PM EST up reply actions
court....
Your Dirty Birds played real well yesterday, especially with all the injuries. The Saint have gone into the “playing not to lose” mode instead of playing to win. I know it’s a rivalry game, but the Saints just didn’t “open” it up. Who Dat.
I prefer to think of it as catching the Saints during a “slump” with last week against the Redskins and now the Falcons. (lol)
It was a good game – fun to watch.
"this ball will fit in that fairway"
Maybe a slump is a good
description. They better crawl out of it fast or the “desperate” Cowboys might just pull of the upset. I’m not so sure a loss wouldn’t be a good thing, as the pressure is starting to mount. We’ll see.
Pre/Post Sponsorships for Tiger
Nothing lasts. What goes up, must come down. Tiger is not exempt from the natural laws of the universe. His transgressions just hastened the cycle. He will be back, just like Kobe.
He's not Kobe....
He can’t pass the ball. He’s not one of five on the team. But I agree, years from now it’ll be one of those “golf stories”….. But it won’t be next year……
CourtGolf
Are you still holding your breath :) “Don’t hold your breath on any of this costing him a penny” & “but I’m not going to hold my breath on Nike or any of his other endorsements……” Your 2010 predictions? You can take some teasing, can’t you?
Ryan, I can see why and how non-golf related sponsors can and should pull out of current advertising (for both their sakes). Nike may stick with him, but should be careful of slogans which are open to alternative meanings.
I do wish US posters would take pity on us poor non-Americans when posting on non-golf subjects. I’m OK with tennis – and most things to do with Atlanta/Chicago , but for the rest – you’re speaking a foreign language.
Jordan vs Woods
Other than the car accident that signaled the incredible amount of attention that Woods’ deplorable behavior has generated and the subsequent fall from grace that it’s engendered, from what I understand Michael Jordan long behaved in a similar manner in terms of infidelities for many years under the cloak of a worshiping press. I still don’t quite understand why he managed to escape such a fall at some point during his career and why Woods has been treated very differently. Any thoughts?
Not that he had to or that many other athletes need to/might come forward but Jordan per usual has kept a low profile during all this seems to me.
You pretty much answered it yourself – “the worshiping media” didn’t want to say or do anything that might make MJ not talk to them anymore. But Jordan got himself caught up with things when he “left the game” for a couple of years because of gambling and other allegations…and don’t forget…he didn’t get away with it. His divorce a couple of years ago set all kinds of monetary records.
"this ball will fit in that fairway"
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