Despite the fact that Tiger Woods finally came out on February 19 and made a statement about the personal decisions that tainted his public image, the worst may not be over for him.
On Friday, Gatorade announced that it “no longer see[s] a role for Tiger in [their] marketing efforts and have ended the relationship.” Gatorade’s decision to part ways with Tiger marks the third sponsor to end their endorsement deal with Tiger.
Accenture and AT&T ended partnerships with Tiger earlier this year, while Nike, EA Sports and Tag Heuer remain on board as sponsors. According to CNBC, Gatorade’s sponsorship of Tiger was especially significant because the deal “was structured unlike any in the brand’s history, as Woods got paid a licensing fee on sales of his drink.”
It remains to be seen if Tiger’s other sponsors will stay with him and if he will acquire new sponsors when he begins to golf again. Gatorade’s decision to end their relationship with Tiger, though, poses important questions about if and when Tiger will be able to put this scandal behind him.
Do you think Tiger would have been able to keep more of his sponsorships if he had spoken out sooner? Where should Tiger go from here?