He may be a bad hubby, but Tiger Woods is still a great advertisement!
For all of you wondering what is going to happen to Tiger Woods, financially, after this major debocle in his personal life, we have the answer: nothing.
Besides possibly having to pay his wife Elin Noredegren a couple million more than he originally promised, Tiger won’t lose any cash from his endorsements or sponsors, according to Ryan Schinman, the CEO Platinum Rye Entertainment, a company which Forbes named “the single largest buyer of celebrity talent in the world.”
“Do not expect Tiger to lose a single endorsement deal in the near future,” Schinman says. “Tiger Woods is the world’s first billion dollar athlete, and his sponsors will stand by him because these companies still want the promotion and publicity that Tiger gives them. He is the single highest paid endorser in the world of sports, period and each one of his deals are multi million dollar contracts. And now more than ever, people are going to be watching him play.”
Schinman also gives us some insight into Tiger’s deals with companies like AT&T, Gatorade, Tagheuer watches, American Express, and Nike. “Tiger has no short-term deals; everything his team does is long-term, multi-faceted – meaning most of his deals are more than just print and TV advertisement. They may also include radio, PR initiatives, and signage on his equipment.”
And his sponsors are more devoted to Tiger than he is to his wife! “He has long term relationships with his sponsors. They know him, they love the publicity he has given them, and they are standing by him.”