Victory will revive Tiger's brand
Source: Agencies |
March 18, 2010, Thursday
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Print Edition
Print Edition
TIGER Woods relieved sponsors by announcing his return to the US Masters next month and now needs a victory on the links to revive his US$100 million sports brand.
Woods has won the Masters four times. If he plays badly and leaves the tour early, sponsors will say "not only is this guy risky from a marketing perspective but he's not achieving the same level of success," said David Carter, executive director of the Sports Institute at the University of Southern California's Marshall School of Business.
"Unless he wins, he's not going to return to the high level of media exposure he's accustomed to and that's something sponsors will have to... look at," Carter said.
"A great performance will mitigate that personal branding damage."
Before the scandal, Woods was believed to be the world's wealthiest athlete, with his sports brand generating about US$100 million a year in royalties.
While some sponsors, including Nike and video game producer Electronic Arts, have stood by his side and voiced support as his personal scandal unfolded, others have let contracts with Woods expire or dropped him from advertising.
Woods laid the groundwork for his return last month, apologizing in public for his indiscretions. But he held off giving a return date at the time, a move that likely did not sit well with sponsors, said Robert Boland, a professor of sports management at New York University.
"The reason he's playing the Masters is to appease his current sponsors," Boland said. "This was very calculated." "A prolonged absence would have been a breach of contract on his part and that's absolutely why he's playing," Boland added.
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