Cry Me a River: Tiger Woods Loses $22 Million in Endorsements

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Tiger Woods went from making $92 million in endorsements in 2008 to $70 million in 2009 -- and this news has been widely discussed by major news outlets. Excuse me if I don't cry. Forbes magazine lists Woods' pre-tax income in 2009 at around $110 million. (This amount includes endorsements, prize winnings at tournaments and overseas appearance fees.) But, Sports Illustrated says that Woods has made more than $90 million already in the past 12 months. I'm sure he'll be all right after his $22 million in losses.

It's really not rational to discuss the financial consequences of a multimillionaire's financial decline when most people will not see even a $1 million in their lifetime. But, let's be completely real for a moment.


Tiger Woods is not hurting financially and neither are his agents or his representatives. That $22 million represents about 25 percent of his annual income, so there is plenty more where that came from. Plus, even though Woods lost $22 million in endorsement deals since the fallout from his extramarital affairs, his income has actually been on a decline since it peaked in 2008. That year he earned about $128 million.

As his marriage fell apart, Woods lost endorsements deals with Accenture, AT&T and Gatorade. The Gatorade deal was for $100 million extending into 2012, Accenture was for $7 million a year and the AT&T contract made up the difference. Both Gillette and Tag Heuer plan to limit the use of Woods in ads but have not completely withdrawn their from contracts from him. There is a chance that Tiger could eventually win these endorsement deals back and more, if he gets his game back and public sentiment swings his way.

Woods has been the highest earning athlete for the past seven years, and he is still ranked among the most popular. Through scandals and great financial losses, he remains on top. For the time being at least, the Tiger Woods brand is alive and well.

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