Tiger Woods need not worry about the fall of his business empire. His commercial sponsors have already come out to say that they will not abandon him despite the sex scandal he is embroiled in right now. His extremely lucrative golf career has earned him ‘a cumulative $1 billion from prize money and off-the-course deals.’ His net worth, after taxes and agents’ commissions, may very well be in the vicinity of $500 million. He is also poised to become a billionaire within the next decade.
In 2009 alone, he earned $130 million. The bulk of this amount came from corporate America that ‘notoriously loathes to be associated with any hint of scandal.’ However, his sponsors such as Accenture, Electronic Arts, Nike, and Upper Deck ‘have long-term deals with Woods.’ And these corporations have certainly made money off Woods. ‘Nike has built an $800 million (sales) business on his back.’ None of the companies are about to turn their backs on the very saleable Woods.
Also, the ‘top three TV ratings in the history of the U.S. Open were all Woods victories, in 2000, 2002 and 2008.’ What makes Woods different from other golfers is that ‘he brings in casual fans that drive up ratings and interest at major golf tournaments.’
Tiger Woods has star power. E-Poll Market Research, the awareness and appeal tracker of celebrities, reported that Woods’ awareness is 82 percent. This will surely increase in their next poll. The next highest golfer right now is Phil Mickelson who is far behind Woods at only 25 percent. Product and services marketers know that public awareness sells.
Via Forbes.com
