General Motors (NYSE: GM) has finally ended its nine-year endorsement deal with Tiger Woods. Tiger had been carrying a Buick golf bag since 2000, and GM said the separation was "mutual and amicable" and that Woods had a "desire for more personal time."GM, meanwhile, has a desire to keep the lights on for a few more months. The contract will now end on December 31, 2008, a year sooner than it had previously been set to expire.
The Tiger-Buick deal was always awkward. The average age of a Buick driver is around 63-years-old, and the notion of Tiger Woods tooling around in a Buick simply wasn't believable. The $7-million per year deal did little to stop the decline of the brand, and as with any endorsement deal involving a sports icon you have to question the motivation behind the deal.
Were GM executives looking to create shareholder value or were they buying the opportunity to show up at the Buick Invitational and have a few beers with Tiger and Vijay? We'll never know.



Reader Comments (Page 1 of 3)
11-25-2008 @ 3:02PM
Pat said...
TIGER WOODS
If you ask the Brains at GM on was the Tiger Woods hook up good for sale by how much.........
Watch them reel off the "Halo Effect", never mind if they cannot come up with a few sales attrubuted to Mr. Woods.
The real reason for these hookups is some Executive(s) likes golf, wants to play freebies and rub shoulders withTiger Woods.
Always comes back with EGO TRIPS !
11-25-2008 @ 3:30PM
harley earl said...
Well done GM you can use those 7 million for future vehicle development not thrown away on celebrity endorsements. If Tiger wants an additional 7 million income which he doesn't need he can go ask the executives at Honda, Toyota or Nissan and go empty their wallets out. I'm sure they will be more than happy to give it to him. LOL.
11-25-2008 @ 8:28PM
BEEKER D. said...
Looks like TIGER will have to give up 5 of his 10 new Mercedes next year!
11-25-2008 @ 8:29PM
nick said...
Any company that puts money up for these guys, the stockholders should be going crazy. Stop all this bull shit to the guys in sports or anything. This is hard times, call in the dogs right now.
11-25-2008 @ 8:40PM
Jack said...
BEEKER D. said...
Looks like TIGER will have to give up 5 of his 10 new Mercedes next year!********
I have seen him many times here in Vegas. He does NOT drive a Buick. He drives and Escalade.
11-25-2008 @ 8:51PM
N.C. Boy said...
Tiger name carries alot of weight. Nike Golf was a joke until Tiger signed on and now Nike is a major force in golf balls,equipment, and clothing. I believe atheletes like Tiger and Michael Jordan are worth every penny they earn. When Michael played, every game home and away was a sell out. Same with Tiger. When he is in the field, TV ratings go up in excess of 1%. which is often 30% increase in viewership. Ie. A 5 overall rating in competition with all shows and when Tiger is in the field the overall rating may go to 6 or 7. He is worth more than he receives. I am an avid golf fan but my interest has lessened without Tiger competing.
We miss you Tiger and look forward to a complete recovery and early return.
11-25-2008 @ 8:52PM
Don said...
Oh by God--Buick is taking $7 million away from Tiger Woods. How is Tiger going to make it on only 150 million a year now. Give me a break. Any car company that pays out that sort of money to a person should go broke.
11-25-2008 @ 8:54PM
Lloyd Myers said...
Tiger has enough money. He should agree to promote GM for free.. Just how greedy can a person get? Tiger Do something because it is just right. Not always for money.. You cannot take one cent with you.
11-25-2008 @ 8:58PM
Lloyd Myers said...
I guess Tiger will be in the poor house from now on.. I am sheding tears.. how can he live on hundred of million? I guess I will have to pitch in a buck to help him thru this month. Greed has no bounds.
11-25-2008 @ 9:03PM
Andre said...
Sports icon or not let's face it, having Tiger Woods as a 7 million dollar endorser makes no sense. GM execs are basically paying to have an excuse to go golfing with him. He doesn't drive a Buick, he knows nothing of cars and has no impact on sales of Buicks. They would be much better off getting an endorsement from professional driver or retired NASCAR or INDY legend. Any retired celebrity especially a race legend would be a worthwhile investment and likely candidate as a Buick driver.
11-25-2008 @ 9:05PM
Shadowadder said...
Its the damn Unions that are screwing up America. Why pay some guy a Job another guy can do for atleast Half the Price and why have all these benefits and pensions and ect ect when you are just a regular worker and not someone with a high degree who has earned the right to some of those good bonuses. Amercia was built on hard work not average work with high value work pay
11-25-2008 @ 9:02PM
Lloyd Myers said...
WHO EVER BOUGHT A CAR BECAUSE TIGER HAD THE NAME ON HIS SHIRT.. GM DESERVES TO GO BROKE IF THEY WASTE MONEY LIKE THIS. GREED HAD NO BOUNDS.
11-25-2008 @ 9:07PM
AD said...
Typical AOL nonsense and bias. GM didn't "fire" Tiger Woods, they simply did not renew the contract. But the sheep that read the headlines from the liars and traitors at AOL know how to suck in the sheep. Did you get sucked in?
11-25-2008 @ 9:09PM
Ed said...
I love your AOL hook LI(n)E...Car Company 'Fires' Iconic Golf Star. It was a mutual end to a contract that was the best for both involved.
11-25-2008 @ 9:26PM
bob wong said...
Woods dosen't sell anything. GM is well rid of him.
11-25-2008 @ 9:33PM
Rachel said...
PPPFFFFT, Well, I don't play golf, yet have driven a cart so.......I'll quit driving my Geo Tracker and GM can find me a cute little Buick.....not an old lady car, tho : ) Must be sporty, ragtop....V-6, prefer a V-8, posi-traction and lemme have some fun in my Golden Years !!!
11-25-2008 @ 9:48PM
Ron Ballard said...
Tiger is the reason that I went to Honda. Why the hell would you pay that dumb looking golf club swinger that kind of money. I think he sucks.
11-25-2008 @ 9:47PM
Ron Ballard said...
You are so right bob wong. GM is better off without his sorry ass.
11-25-2008 @ 10:03PM
Marc said...
I love the comments by the ignorant here.
-Tiger is a "sorry ass". Yeah ok!
-Celebrity endorsements are ridiculous. Show me those stats please.
-Tiger should do what's right and endorse them for free. OK...so he should ignore his family during those times because its nice right? Maybe you should mow my lawn because it's just "nice". He's a guy too.
Stop picking on the rich and famous. They earned their money. I'm sure you'd all like to be as good as he is and earn his paycheck!
11-25-2008 @ 10:11PM
N C BOY said...
If you want to play golf with Tiger you have to pony a million dollars for that pleasure. He is the greatest golfer that has ever lived. Buick got more for there money than the open market demands for Tiger. The time to do commercials and Buick functions would not come close to the amount of money he could make doing clinics and public appearances. Tiger donates tens of millions of dollars every year. He is the most giving and level headed athelete and should be respected as the role model that he is. He gives back to society. Ie. Tiger Woods foundation. He did a free clinic at Fort Bragg NC for the soldiers and there family. When is the last time you have heard of charitable benefits by other atheletes outside of golf. Say Iverson,Kobie,Brady,Ect.
Golf has generated over a Billion dollars to Charities. What other sport can say that. So $7 million for Tiger was a deal.
Piece milling his time compared to the committment to Buick he could have made alot more than $7 million. I am sure he endorsed Buick because they Endorse several tournaments on the PGA tour. Tiger is anything but GREEDY. He is one of the most generous with his time and money of any personalities. I put him in the class of Bob Hope, and Jerry Lewis.
Before you Igonorantly trash Tiger, Look at his schedule of Charitable events when he plays in Golf Tournaments.