General Motors ends 9-year endorsement deal with Tiger Woods

November 24, 2008

DETROIT (ChattahBox)— At least partly due to the difficult times, General Motors has ended it’s endorsement deal worth at least $7 million a year, with Tiger Woods. Woods a global icon in sports with his 14 major championships, has been carrying the Buick logo on his golf bag for the last nine years and still had one year left on his contract.

While General Motors Corp. was looking to cut costs and hoard cash to survive the worst sales downturn in a quarter-century, it also seems to be a mutually agreeable split. The auto company said Monday the world’s No. 1 golfer wanted more time for himself, especially with a second child on the way. Woods’ agent at IMG, Mark Steinberg, also confirmed the decision to end the relationship one year early was “absolutely mutual.”

Woods has endorsed GM products around the world and mainly has been seen in Buick commercials as the company tried to give the nameplate a more youthful image. Peck said during the launch a few years ago of the Enclave that its research showed 78 percent of consumers who bought the SUV previously had not been Buick owners.

Woods has not played since season-ending knee surgery after winning the U.S. Open, and he is not expected to return until next year, most likely in early March, depending on his recovery.

Steinberg said he would “expect there to be some exposure on the bag” when Woods next plays.

“I’ve got a few ideas, and we’re in the process of working through that,” he said.

Buick remains the title sponsor of two PGA Tour events—the Buick Invitational at Torrey Pines, which Woods has won six times, and the Buick Open outside Detroit, which Woods has won twice.


Comments

One Response to “General Motors ends 9-year endorsement deal with Tiger Woods”

  1. Cris Cohen on November 25th, 2008 11:14 am

    I’m guessing this means that GM is now looking for budget celebrities, like someone who was an extra in “Law & Order” or some sort of trained animal. “General Motors: Now accepting less than the best.”

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