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Amicable Split Has Nothing to Do With Industry Bailout, Says LaNeve
NEW YORK (AdAge.com) -- General Motors Corp. is ending its nine-year relationship with its most visible endorser, golf superstar Tiger Woods, citing the difficult economy as well as Mr. Woods' desire for more family time as he and his wife prepare for the birth of their second child.
The winner of 65 PGA Tour events and 14 major championships, Mr. Woods is arguably the greatest, most well-compensated endorser in the world. His five-year, $40 million deal with GM is part of his nearly $100 million in annual endorsement deals with Nike, EA Sports, American Express and Tag Heuer, among others. The GM pact will end Dec. 31.
While current economic conditions are certainly a factor, Mark LaNeve, GM's North American VP-sales, service and marketing, said in a statement that the Big Three domestic automakers' plea for a $25 billion bailout from the federal government had nothing to do with the amicable end of the relationship with Mr. Woods.
Tiger Woods, arguably the greatest, most well-compensated endorser in the world, was most closely associated with GM's Buick brand.
Photo Credit: AP
The winner of 65 PGA Tour events and 14 major championships, Mr. Woods is arguably the greatest, most well-compensated endorser in the world. His five-year, $40 million deal with GM is part of his nearly $100 million in annual endorsement deals with Nike, EA Sports, American Express and Tag Heuer, among others. The GM pact will end Dec. 31.
While current economic conditions are certainly a factor, Mark LaNeve, GM's North American VP-sales, service and marketing, said in a statement that the Big Three domestic automakers' plea for a $25 billion bailout from the federal government had nothing to do with the amicable end of the relationship with Mr. Woods.
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