Detroit — General Motors Corp. says it will end its endorsement deal with Tiger Woods at the end of the year.
GM said in a statement Monday that it is looking to reduce costs and that the world’s No. 1 golfer wants more personal time as he expects his second child.
Woods has endorsed GM products around the world and has been closely tied to its Buick brand in the United States, Canada and China.
Woods has carried the Buick brand on his golf bag since 2000, and his most recent promotion was to caddie for a contest winner for nine holes at Torrey Pines, where Woods won the U.S. Open this summer for his 14th career major.
The five-year deal, believed to be worth at least $7 million a year, was to end in 2009. Woods’ agent at IMG, Mark Steinberg, said the decision to end the endorsement one year early was “absolutely mutual.”
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KEITHMILES05 (anonymous) says…
I wouldnt' buy anything Woods endorses.
Pywacket (anonymous) says…
He probably wouldn't buy anything you endorse, hotshot.What's wrong with Woods? As overpaid athletes go, he seems like a decent guy. He puts a lot of time and money into programs & clinics for kids--particularly disadvantaged youth.