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General Motors released a press release this week announcing the end of the endorsement deal they've had with Tiger Woods for the last nine years effective December 31. The company says that Tiger is looking for more personal time while expecting his second child in a month or two and that GM is also looking for "budget efficiencies" during a difficult time for GM. Yes, a Tiger Woods paycheck is very expensive when the auto industry is suffering and asking for a government bailout. Tiger, however, is still rich.
"I am very proud of the long standing partnership I've had with GM and have enjoyed being a part of the company's dramatic product evolution," Woods said in a statement. "We've had a lot of fun together and I participated in some unique and rewarding activities. We've enjoyed a tremendous partnership over the years and we will maintain strong ties with the many people at GM we call friends."
For the last nine years, Tiger has been promoting Buick cars, specifically the Buick Enclave. But with the new announcement, Mark LaNeve, General Motors North American Vice President of Sales, Service and Marketing said that it has nothing to do with the auto industry struggles at the moment.
"Tiger has been a great friend to GM and a fantastic asset through the years helping to bring consumer awareness to many new GM products. In light of the news coming out of Washington," LaNeve said. "This decision is the result of discussions that started earlier in the year and the timing of this agreement with these other activities is purely coincidental."
