Since he announced his “indefinite” break from golf yesterday at around 7p ET, Tiger Woods may have watched hundreds of millions (if not ultimately billions) of dollars disappear less than 24 hours later.
After Woods’ press release, Accenture yanked the golfer’s image from its website, AT&T said it was now “evaluating” continuing its relationship with Woods while this morning Gillette said it is discontinuing using Woods in its marketing campaigns. Earlier, Gatorade dropped its signature Woods product from all store shelves.
Yes, we’d seen some cracks in the dam before the announcement, but now more and more sponsors are actively dropping Woods from their marketing plans.
Next question: Why haven’t sponsors dropped Woods altogether to save the tens of millions they will continue to pay him for now doing nothing? Read more…