Endorsement Profile: Tiger Woods
Posted by ZA on December 3, 2009
Athlete: Tiger Woods
Agent: Mark Steinberg (IMG)
Age: 33 (December 30, 1975)
Rank in SI’s 50 richest athletes: 1st
Endorsement value: $105,000,000.00
Tiger Woods endorsement deals (thru Nov. 2009):
* Gatorade (Pepsico)
* Gillette (Procter & Gamble)
* EA Sports (Electronic Arts)
* Nike Golf
* Tag Heuer
* TLC Vision Corporation
* Upper Deck
Tiger Woods endorsement potential:
Tiger Woods is the top athlete endorser in the world today. He is the Cadillac of athlete endorsements (even if he occasionally drives erratically in his own Escalade). Every major corporation wants him, but few can afford him. Woods has even surged past sports brand icon Michael Jordan in-terms of earnings; Tiger is first athlete in sports to earn more than $1 billion dollars in their career. Much of that money comes from the rich endorsement deals that Tiger has had for over a decade.
Tiger’s endorsement history is legendary, starting with a $40 million contract from Nike when he turned pro in 1996. Tiger basically made Nike Golf what it is today and Phil Knight rewarded him handsomely with a $100 million extension in 2006. Tiger has become the driving force behind Nike Golf, even as they have added other big name golfers to their endorsement stable (i.e.- Stewart Cink, Anthony Kim, Justin Leonard). Woods is a poster boy for their product line, having dropped his lucrative Titleist sponsorship when he switched to play a Nike golf ball.
Much of Woods appeal as an endorsement star has to do with his phenomenal ability on the golf course. Tiger grabbed the sport of golf by the throat and has not yet let go; in a sport with some of the biggest endorsement stars on the planet (Phil Mickelson, Arnold Palmer) Tiger is the king. It only helps that golf’s demographic is one that appeals to the bluest of blue chip companies; businesses that want their product featured (by Tiger Woods) to that affluent golf crowd. Tiger’s so marketable that even his caddy, Steve Williams, has grabbed endorsement deals with Nike and Valvoline. Let that sink in for a second…even Tiger Woods’ caddy has major corporations paying him money to endorse their product.
Perhaps the truest test of Tiger Woods endorsement appeal is understood by looking at the list of corporations that he used to endorse. Tiger’s former deals with Accenture, American Express, Buick, General Mills, Titleist and Rolex would be the envy of most athletes, yet Woods has just moved on to bigger, more lucrative deals.
Tiger Woods has truly changed the game in-terms of endorsement deals. Like Jordan did before him, Woods seeks out “business partnerships” rather than just contractual endorsement deals. He is setting the standard today on how athletes and sponsors partner up. His deals are making sports stars, like Tiger, more money from corporate sponsors than they have ever earned before.
Tiger Woods commercial for Nike Golf:
[Edit: Accenture dropped their endorsement deal with Tiger Woods in December 2009 - a few days after this post]