Economic impact of Tiger Woods absence might not be severe, golf industry experts say. There have been a lot of gloomy predictions about the impact the Tiger Woods scandal, and his self-imposed hiatus, might have on America's annual $75 billion golf economy.
Many industry experts say that fears are overblown, however, and they are optimistic that whatever impact is felt will be short-lived. His absence will be felt most by broadcasters. According to research by Nielsen, TV ratings for tournaments when Woods plays are 50 percent higher than ratings for tournaments when he doesn't. Neal Pilson, former president of CBS Sports and now a sports broadcast consultant, says that Tiger's indefinite leave from competition is affecting TV advertising purchases for 2010 PGA Tour events.
Because of the soft economy, advertising inventory for the first half of 2010 wasn't sold out before the Woods scandal erupted on Thanksgiving. Tiger Woods, Elin Nordegren apologize to daughter's school for sex scandal-obsessed media. Sanchez/AP Tiger Woods with his daughter Sam and wife Elin are seen a week before he crashed his SUV outside his home Thanksgiving night and his sex scandals became national news.
Tiger Woods, who recently apologized for catting around to a long list of people, has made one more mea culpa - to the private pre-school his 2-year-old attends. And this time Woods' wife, Elin, chimed in, too. "Dear Premier Academy parents," they wrote jointly in a note to the school in Windemere, Fla., where the Woods family lives. "We would like to share our appreciation for your support over the past several months and offer our personal apology for any inconvenience you are experiencing due to the increased media scrutiny surrounding our children. " The Woods' daughter, Sam, is a student at the school. "We truly understand how frustrating it can be," they wrote. Elin Nordegren: 10 Things She's Done Since The Tiger Woods Scandal. Tiger Woods' Self Inflicted Loneliness Gets Worse with Coach Hank Haney Gone? Hank Haney, Tiger Woods former golf coach, confirms that Tiger Woods is a sex addict, and this is what he underwent treatment for in rehab, according to RadarOnline.
Haney, who suddenly resigned his coaching position with Woods, originally did not give an explanation for doing so. Michael Campbell: Woods scandal affecting other golfers' personal lives - National Golf. Former U.S. Open champion Michael Campbell says Tiger Woods' cheating scandal has hit the personal lives of golfers on the PGA Tour.
Campbell told the Sunday News in his native New Zealand wives and girlfriends of Tour players are worried their golfing spouses or boyfriends could stray just as Woods did. And the 2005 U.S. Open winner says the effect from Woods' scandal includes strained marriages and private lives for some Tour players and their families. "He hasn't done golf any favors. "I know Tiger pretty well and I'm very surprised by his actions, his wrong-doings. Campbell is one of the few fellow players to question Woods' public, televised apology on Feb. 19. "I didn't feel his speech was heartfelt," Campbell said. LIke many Tour players, Campbell is unsure when Woods will return to the circuit.
"He spoke of coming back though we don't know when that will be. Financial impact for golf felt all around with Tiger Woods gone. By Michael McCarthy, USA TODAY Tiger Woods' self-imposed exile could cost him millions in endorsement dollars and winnings.
But the loss of golf's biggest cash cow also could deliver a financial whammy to the PGA Tour, TV networks, corporate sponsors and other entities that rely on the world's No. 1 player to drive their business. Without the so-called Tiger Effect, pro golf could be staring at the Tiger Recession. The Tiger-less Tour begins in earnest today at the Farmers Insurance Open at Torrey Pines near San Diego. The former Buick Invitational is viewed as the de facto start of the season since it's typically Woods' first tournament and the first to attract broadcast TV coverage.
Tiger Woods' mistress scandal costs shareholders of sponsors like Nike, Gatorade $12 billion. The Tiger Woods scandal and celebrity endorsements. A recent issue of Forbes features a full-page ad for the consulting firm Accenture with Tiger Woods striding through tall grass.
The tagline reads, “The road to high performance isn’t always paved.” To which the obvious rejoinder these days is “Sometimes it runs straight into a fire hydrant.” Jokes about Woods’s current woes come easy, but the story is not trivial—at least, not in terms of money. Woods has been the best-paid athlete in the world for almost a decade, and much of that income is from endorsements; ESPN once estimated that his lifetime earnings could total as much as six billion dollars. When the scandal erupted, journalists and brand-marketing experts alike insisted that it would have little impact on Woods’s advertising appeal, and his sponsors—including Nike, Gillette, and Gatorade—quickly affirmed their support for him.
The fact that a golfer’s marital troubles might affect the bottom line of a multinational is a relatively recent phenomenon. There is a logic to this.