BREAKING NEWS
OK LogoNEWS

Sponsors Lose $12 Billion by Backing Tiger Woods

2009__12__wenn862137 225×220.jpg

Dec. 29 2009, Published 5:49 a.m. ET

Link to FacebookShare to TwitterShare to Email

The sponsors who decided to stick by Tiger Woods while he's in the rough may want to rethink things after they see the results from a recent study, E! News reports. Apparently backing Tiger right now is a risky business decision, as it could cost the companies up to $12 billion.

According to a recent study conducted by two economics professors from the University of California at Davis, continuing to sponsor Tiger could get expensive.

Article continues below advertisement

The professors looked at stock market returns for Tigers' sponsor companies in the 13 trading days that immediately followed the car crash scandal and ending a week after Tiger announced he would be leaving golf indefinitely.

The sponsors who suffered the most were Nike, Gatorade and EA Sports losing $6 billion, after they made statements to support Tiger despite his indiscretions.

These companies could be suffering even worse financially than Tiger, who normally makes $100 million per year.

MORE ON:
Tiger Woods

Accenture is breathing easy right now as they managed to avoid backlash from their Tiger association, since their profits don't depend on public opinion.

//____twitterpx
Advertisement

Want OK! each day? Sign up here!

© Copyright 2023 OK!. A DIVISION OF EMPIRE MEDIA GROUP HOLDINGS LLC. OK! is a registered trademark. All rights reserved. Registration on or use of this site constitutes acceptance of our Terms of Service, Privacy Policy and Cookies Policy. People may receive compensation for some links to products and services. Offers may be subject to change without notice.