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General Motors ends endorsement deal with Tiger Woods

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.

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Last updated: July 05, 2009: 10:48 PM

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