Tiger Woods is parting ways with watch-maker Tag Heuer, according to Ron Sirak of Golf World. That makes six corporate sponsors Woods has lost, or mutually split with, since the Thanksgiving 2009 car crash that ignited a storm over his private life.
“Tiger’s agent confirms Woods’ Tag Heuer relationship has expired,” Sirak tweeted Friday night. CNBC’s Darren Rovell tweeted the split was “amicable.”
The Swiss watch-maker suspended use of Woods’ image in the U.S. after revelations of Woods’ extramarital affairs.
Woods had previously lost or mutually split with five marketing partners: Gillette; Gatorade; Accenture; AT&T; and Golf Digest.
His agent Mark Steinberg of Excel recently arranged a new deal for Woods to endorse the Japanese company Kowa. Woods also lists sponsors that have stood by him on his Web site at TigerWoods.com: Nike Golf; EA Sports; Upper Deck; NetJets; TLC Laser Eye Centers; and Tatweer: The Tiger Woods Dubai.
The public dance between endorsers and sponsors on Madison Avenue is tricky. Some sponsors that want to end their relationship with an athletic endorser simply let the contract expire and don’t renew.
Others such as Accenture are more direct. Only two days after Woods publicly admitted to “infidelity,” Accenture announced it was ending its relationship with because he was “no longer the right representative” for its brand.
Who would have thought infidelity would cost so much!