CNBC: Tiger Woods' lost endorsements cost IMG $4.6M. By Darren Rovell, CNBC Sports Business Reporter Tiger Woods' loss of endorsement income cost his management company IMG $4.6 million in fees, according to a confidential document reviewed by CNBC. The document provides the most comprehensive financial look into the powerful, but private, sports management company in its 50-year history. IMG, like other agencies, charges its clients between 15 and 20% on endorsement deals it secures, so if it lost $4.6 million on Tiger's endorsements, it would mean the golfer himself lost in between $23 million and $30 million in deals last year. That said, it isn't known what fee Woods pays the company. Presumably, a marquee client such as Woods would pay less than the standard fee. Woods — who is listed in the document under the golf section as "key client" — lost both his Accenture and AT&T deals in December 2009, but lost his Gatorade deal in February of this year amidst the fallout from his infidelity scandal.
He is playing the US Open this weekend. Even Hotels Are Capitalizing on Tiger Woods Sex Scandal « Wei Under Par. Nick Faldo: Sex scandal damaged Tiger Woods. Via Larry Brown Sports: Tiger Woods is still one of the better golfers in the world, but he hasn’t won a major since enduring his public sex scandal three years ago. Before his scandal and injuries, it looked like a lock that he would beat Jack Nicklaus’ record of 18 career majors. Now it would be a stretch to say that Tiger, who has 14 career majors, will break the record. Commentator Nick Faldo, who won six majors, doesn’t think Tiger will reach Nicklaus’ mark.
“I think it’s slim. Faldo specifically mentioned the sex scandal and how he thinks it hurt Woods psychologically. “(The revelations) have done more damage than people would give them credit for,” Faldo said. “It’s wrecked that wonderful tranquility you get of going to a golf course, tipping out a bag of balls and hitting them from 9-5 and just thinking of golf. “When you’re a golfer that is great. Woods has won three tournaments this year, and he finished third at the British Open. Tiger Woods: I Will "Explain" Sex Scandal to My Kids. In his first major news conference since his sex scandal broke, Tiger Woods apologized again for humiliating his wife and family by having numerous flings with various women. Speaking to reporters Monday at the Augusta National, Woods, 34, said that "a lot has happened in my life in the past five months," but the hardest part was "having to look at myself in a light that I never wanted to look.
" PHOTOS: Tiger and his babies "The pain and the damage I caused my wife, my mom, my kids ... Going forward, I am going to have to explain all [this to them] ... but that's my responsibility. I did it. " (Where was Tiger's wife during the conference? He declined to reveal why he went to rehab for 45 days, but he said it allowed him to "to take a look at myself ... He said he never considered going to rehab before the scandal broke. PHOTOS: Tiger and his wife - the way they were "What I was thinking was not correct," he said. "I fooled myself. PHOTOS: Revisit Tiger Woods' sex scandal "That hurts.
Why Nike dumped Lance Armstrong but not Tiger Woods | Cycling. Los Angeles: Nike, a company that identifies itself with sporting excellence, had no choice but to cut ties with Lance Armstrong in the face of a damning doping report, one sports business expert said Wednesday. David Carter, a sports business professor at the University of Southern California and executive director of USC's Sports Business Institute, said Nike could no longer afford to stand by Armstrong as it had other disgraced icons.
"I think because his indiscretion cut to the very heart of competition in sport, if he lacks that kind of integrity there's no way a company like Nike can tolerate that," Carter said. Nike stuck with golf superstar Tiger Woods even as other sponsors dumped him in 2009 in the midst of a sex scandal that wrecked his marriage. Nike also supported NBA superstar Kobe Bryant when he faced a sexual assault charge in 2003, which was eventually dropped. "The other guys' problems were off the field of play," Carter said.
"He has not taken responsibility. " Gatorade Loses Its Thirst for Tiger Woods - Sex Scandals, Tiger Woods. Sex Scandals By Catherine Donaldson-Evans 02/26/2010 at 06:25 PM EST Tiger Woods has been dumped again by a corporate sponsor, this time by Gatorade. A spokeswoman for the drink maker, sold by PepsiCo, confirmed Friday that it had discontinued its endorsement deal with the scandal-plagued golf star. "We no longer see a role for Tiger in our marketing efforts and have ended our relationship," Jennifer Schmit said in a statement. Woods, 34, last week apologized publicly for his string of marital infidelities and said he alone is to blame for the indiscretions, which first came to light after he crashed his SUV into a tree on Nov. 27. Accenture and AT&T are the other two companies to drop their sponsorship contracts with Woods. Tiger Woods Lost $22 Million In Endorsements In 2010.
Tiger Woods and wife divorce after sex scandal. Tiger Woods Update: CHEAT SHEET -- The women, the events surrounding the golf great. Holly Sampson, Kalika Moquin, Mindy Lawton, Jamie Jungers, Cori Rist and Jaimee Grubbs are the allged Tiger Woods mistresses. Tiger Woods may be the world’s top golfer, but he’s looking like one sub-par husband and that perfect swing is no match for the kind of rough he's stuck in now.
With eight alleged mistresses (and counting), Woods has bogeyed beyond the point of salvage and that careful wall he'd constructed to protect his private life is all but pulverized. A new player comes to the fore with each passing day. To keep them straight – we offer this guide to the key places and faces in the Tiger Woods sex scandal: THE CRASH: The scandal began Nov. 27, after Woods rammed his black Cadillac Escalade into a fire hydrant and a tree outside his mansion in Windermere, Fla. Reports of a domestic brawl over extramarital dalliances surfaced almost immediately. Elin Nordegren, 29, a Swedish former bathing suit model born in Stockholm, married Tiger Woods, 33, in 2004.
Tiger Woods scandal update: Fans attack Woods calling him 'phony', 'fake' and 'fraud' - National Celebrity Fitness and Health. Tiger Woods scandal could cost PGA millions. New York, Dec.11 (ANI): The sex-related scandal involving golfing great Tiger Woods could have a crippling effect on the PGA tour, and according to some estimates, the loss could be in millions of dollars and pounds. According to a CBS assessment, reports of Wood's alleged nine extra-marital affairs plus front-page headlines bearing steamy text messages are likely to compound both his and the PGA's problems. At the Chevron World Challenge golf tournament Sunday, the most famous face in golf was the man who wasn't there.
Nor was there a single commercial featuring the golfer whose commercial endorsements are a large part of the estimated 130 million dollars that he earned this year. Woods has pleaded for privacy to deal with what he has called "transgressions. " But the private conduct - or misconduct - of Tiger Woods has brought with it potentially devastating public consequences to the sport of golf he has come to dominate, consequences that could add up to hundreds of millions of dollars. Tiger Woods' mistress scandal costs shareholders of sponsors like Nike, Gatorade $12 billion.