Monday, March 1, 2010

Gaotrade Drops Tiger Woods

This just goes to show that sometimes the right message delivered too late won't save you. We watched Tiger Woods' press conference as well as the rest of the world a few weeks ago and found the message to be right but the delivery... unsympathetic. Has Woods given that press conference inthe first few days after his car accident - it would have been enough to restore his credibility. But delivering it months after the fact appears to have backfired. Tiger Woods has lost his third endorsement deal.

Tiger Woods
Getty Images
Tiger Woods Makes First Statement Since Crash.

The embattled golfer was dropped by Gatorade [PEP 62.685 0.215 (+0.34%) ], CNBC confirmed on Friday.

"I can confirm that we no longer see a role for Tiger in our marketing efforts and have ended our relationship," Gatorade spokesperson Jennifer Schmit told CNBC.

"However, our partnership with the Tiger Woods Foundation will continue. We wish Tiger all the best."

Woods' agent Mark Steinberg did not respond for comment.

Late last year, just days before Woods got into an accident that triggered the fallout, Gatorade said it would be discontinuing its Gatorade Tiger drink, but the company still issued statements of support for Woods and continued to confirm that its contract with Woods was intact. But on Friday, Gatorade's logo was no longer present under Tiger's sponsors on the golfer's Web site.

Gatorade's deal with Tiger was structured unlike any in the brand's history, as Woods got paid a licensing fee on sales of his drink.

The other two companies that have dropped Woods are AT&T [T 24.95 0.14 (+0.56%) ] and Accenture. Woods still has deals with Nike [NKE 67.69 0.09 (+0.13%) ], EA Sports [ERTS 16.68 0.10 (+0.6%) ], Gillette [PG 63.21 -0.07 (-0.11%) ]and Tag Heuer.

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