A great cost on Tiger Woods’s sex scandal
January 12, 2010 by TheMaster
Filed under Tiger Woods Videos
2009 is almost past away , back to this year , Tiger Woods’s sex scandal was one of the most hot topic. But you may not know how much did it costs.
It has cost the shareholders of companies endorsing the golfer up to $12 billion (?7.2 billion), according to a study by economic professors at the University of California-Davis.
The study, conducted by Victor Stango and Christopher Knittel, examined the market value of Woods’ main sponsors in the days following the the golfer’s late night car crash in November, and the subsequent revelations of extra-marital affairs.
“We estimate that shareholders of Tiger Woods’ sponsors lost $5-12 billion (?3-7.2 billion) after his car accident, relative to shareholders of firms that Mr. Woods does not endorse,” the professors wrote, adding that shareholder value fell an average of 2.3 percent.
Of the sponsors, it was the sports-related companies that fared the worst, with Tiger Woods PGA Tour Golf, Gatorade, and Nike all suffering a 4.3 percent loss, or around $6 billion (?3.7 billion).
Woods – the world’s first sporting billionaire – was estimated to earn between $66 million (?41.5 million) and $100 million (?63 million) in endorsements each year before the scandal hit, but Gillette – one of his biggest sponsors – has since announced they are scaling back their use of Woods in its advertising campaigns while Accenture has dropped the golfer altogether.
More than a dozen women have been linked with Woods since the car crash, and the golfer has taken an “indefinite” break from the sport to focus on his family, though it has been said that wife Elin Woods has already launched divorce proceedings.
2010 is comming , hope to see a tolly new Tiger Woods in the golf course.
Tiger Woods mistress #2 –Jaimee Grubbs Sex Tape Video
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