Scandal hits the pocket of Tiger Woods
|Written by Gaby Varji|
|Thursday, 17 December 2009 00:34|
Self-destruction of Tiger Inc. forces to question whether companies can afford to sign multimillion dollar contracts that bind with celebrities.
When all goes well, celebrities can help increase sales of a product and strengthen the image of the manufacturer. But the surprising and sudden drop in Woods shows how quickly things can go wrong when a superstar's private life is exposed with a negative light by the current sensationalist news culture.
Woods and his advisers spent years cultivating a good guy image with his constant victories, both of which led him to become the first-and perhaps the last-athlete winner of $ 1,000 million. That also led to his downfall is so striking.
"The athlete of $ 1,000 million would be a thing of the past," said Laura Ries, president of consultancy Ries & Ries. "Companies want a safe option and it seems that virtually no safe options."
Most of the $ 100 million a year that Woods wins do not come from the pockets of tournaments, but companies like Accenture who wanted to be associated with him. Such image-based ads are the least likely to endure. Ultimately, that could mean that some other figures follow the lead of Woods.
"There must be confidence and he just throw a grenade into any traditional arrangement normally reach," said John Sweeney, director of sports communication at the School of Journalism and Mass Communication at the University of North Carolina at Chapel Hill.
Accenture broke its ties with Woods on Sunday, two days after the golfer announced he was leaving the sport indefinitely to try to resolve their marital problems, after admitting he had been unfaithful. Accenture said that Woods is not the appropriate representative of the values of the company. "
AT & T said it is also evaluating its relationship with Woods, and so has the watchmaker Tag Heuer. Nike, Gatorade and PepsiCo Inc.s EA Sports will continue to support the golfer.