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Tiger Woods becomes first athlete to earn $1 billion

Posted Oct 2nd 2009 5:00PM by Zac Bissonnette (RSS feed)
Filed under: Business of sports

Forbes reports that Tiger Woods is now the first athlete in history to earn $1 billion over the course of a career.

Not bad for a 33-year old who's still in the prime of his career. According to Forbes, he passed the $1billion mark when he earned $10 million for winning the FedEx Cup last week. It might be a mistake to put too much emphasis on the Forbes calculation since a huge chunk of Woods' earnings come from endorsement deals where financial terms are not disclosed. His career earnings on the PGA Tour are now up to $92,862,539, to be exact.

Continue reading Tiger Woods becomes first athlete to earn $1 billion

Money winners of 2008: Tiger Woods on the road to earning $1 billion

Posted Dec 13th 2008 6:40PM by Amey Stone (RSS feed)
Filed under: General Motors (GM), Business of sports

This post is part of our feature on Money Winners of 2008. See all 20.

Tiger Woods returns to our Money Winners list this year despite a season shortened due to an injury and being let go as a General Motors spokesman. He won four of the six PGA tournaments he entered this year before bowing out with an injured knee. Paul Rogers, a veteran golf writer, who has written for Travel + Leisure Golf, GOLF Magazine, and Links Magazine, who I interviewed via e-mail, called that, "an unheard of rate of success by any current player's standards except his own."

That record made him golf's second-biggest prize winner despite his short season. Rogers says, "To give you a better sense of this
accomplishment, the top money winner on Tour this year, Vijay Singh, competed in 23 events." Rogers also mentioned that Woods is currently designing three golf courses in the Dubai desert, the mountains of North Carolina, and in Mexico's Baja, Calif., for a reported design fee of $25 million each.

Golf Digest magazine estimated in its February issue that by 2010 Woods could be the first athlete to reach $1 billion in earnings. He earned $123 million total in 2007 for total career earnings of $769 million, according to the magazine.

Continue reading Money winners of 2008: Tiger Woods on the road to earning $1 billion

Nike's stock takes a tumble: What Tiger effect?

Posted Dec 12th 2006 5:26PM by Sarah Gilbert (RSS feed)
Filed under: General Motors (GM), NIKE, Inc'B' (NKE), Business of sports

tiger woodsOur correspondent, Mike Brewster, is a freelance writer and sports enthusiast. We asked him to begin contributing pieces on the business of sports.

Following the shortest drive of his career (about 10 feet of stage while behind the wheel of the newly introduced Buick Enclave last week at the L.A. Auto Show), world number one golfer Tiger Woods is back making business news, re-upping with NIKE, Inc. (NYSE:NKE) Tuesday for a third successive multi-year contract.
While terms weren't announced, this pact is bound to exceed the two previous five-year agreements, which at $40 million and $100 million were relative bargains for the Oregon sporting goods giant.

Interestingly, Nike's stock price took a tumble on the news, thereby temporarily disproving my "As-Tiger-Goes-So-Goes-Nike" theory. Ever since Tiger regained his form over the summer and posted six consecutive PGA Tour wins, Nike's stock has risen from a 52-week-low of $75.52 on August 10 to a high of $99.30 on November 30. But today, the stock fell nearly a full percentage point. Maybe Tiger's deal is for a little more scratch than we thought?

Continue reading Nike's stock takes a tumble: What Tiger effect?

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Last updated: November 11, 2009: 12:41 PM

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