Tiger Woods sponsorship deals hang by a thread

TIGER Woods’ annual sponsorship fortune is hanging by a thread with blue chip partners reviewing their multi-million dollar deals with the star.

Rivers of gold.

TIGER Woods’ rivers of golden sponsorship dollars might be running dry.

A report, published in Forbes, from sports industry economics expert Patrick Rishe claims the 41-year-old’s DUI arrest on Monday morning (AEDT) has left his annual fortune from endorsement and ambassadorial deals under threat.

The 14-time major winner’s DUI has come at a time when Woods’ standing in the game of golf and his position as a vehicle to promote his sponsors has never been more diminished since his series of alleged extramarital affairs were first reported in 2009.

Woods, who is currently sidelined from competition after having his fourth back surgery in April, suddenly looms as a potential burden on his fleet of sponsorship deals.

He hasn’t competed since the 2017 Farmers Insurance Open in January where he failed to make the cut.

A 79-time winner on the PGA Tour who was the world’s top-ranked golfer for a record 683 weeks, Woods has lost form in recent years due to injuries and the mastering of a new swing, while his ranking has plummeted to 876 after his long spell on the sidelines.

He has competed in only 19 events on the PGA Tour since the end of 2013, recording just one top-10 during that period along with seven missed cuts and three withdrawals.

Suddenly, the most marketable athlete on the planet may not look so great in the eyes of the sponsors paying him extremely well to promote them.

They are the same sponsors who now suddenly have a tool to potentially break their contracts with the champion golfer.

Rishe, the Director of the Business of Sports Program at the Olin Business School at Washington University, estimates Woods’ endorsement income makes up almost 100 per cent of his reported $61 million ($US45.5 million) earnings from last year because of his injuries.

When the river runs dry.

He reports Woods lost more than $20 million in endorsement revenue following the revelations of his affairs and marriage breakdown where he lost giant sponsorships with Gatorade AT&T and Accenture.

“Many companies felt “burned” by Tiger back in 2009/2010, and they showed their emotions by dumping Woods as a brand representative,” Rishe told Forbes.com.

“Expect the same within days of today’s DUI arrest.

“Part of this is because Woods is more “expendable” these days as a brand ambassador because his playing career is in serious jeopardy of ever again coming remotely close to the greatness we all witnessed for the better part of two decades.

“Part of this is because he is now, with this arrest, going to be perceived by corporate America as a two-time offender of the public’s trust.”

Rishe predicts that at least three of Woods’ sponsorship partners will severe ties with him as a result of his DUI arrest.

Nike Golf, Rolex, Bridgestone Golf, TaylorMade Golf and Kowa are all among the list of sponsors that may walk away from him.

Woods has apologised and explained the circumstances surrounding his arrest, but it may not be enough to save his sponsorship deals.

Woods said alcohol was not a factor in his DUI arrest earlier on Monday and instead blamed an unexpected reaction to prescribed medications.

Woods said in a statement he took full responsibility for his actions and apologised to his family, friends and fans.

“I want the public to know that alcohol was not involved. What happened was an unexpected reaction to prescribed medications,” he said.

Tiger Woods still has a lot to lose.

“I didn’t realise the mix of medications had affected me so strongly.”

Woods, who is second on the all-time list with 14 major titles behind Jack Nicklaus, was taken into custody at about 3am (local time) near his Jupiter Island home in Orlando and booked at 7:18am (local time).

He was released several hours later on his own recognisance, according to an online police report.

Woods said he co-operated with police and wanted to thank the Jupiter Police Department and the Palm Beach County Sheriff’s office for their professionalism.

“I will do everything in my power to ensure this never happens again,” he added.

Woods, who is recuperating from his latest bout of surgery, said last week he felt better than he had in years and had no plans to retire from competitive golf.

“Presently, I’m not looking ahead,” Woods wrote on his website.

“I can’t twist for another two and a half to three months. Right now, my sole focus is rehab and doing what the doctors tell me. I am concentrating on short- term goals.”

This is not the first time Woods has made headlines away from the golf course. His private life unravelled in late 2009 over allegations about affairs with several women and ultimately led to the end of his marriage.

Those allegations followed a bizarre early morning car accident outside his Florida home that rapidly ballooned into a fully-fledged sex scandal that turned his previously unblemished life and career upside down.

— with AAP