Word: nike
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Dates: during 2000-2009
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...Nike Without a doubt, the swoosh will stand by Woods. Nike has backed Woods since his 1996 professional debut and reportedly pays him $30 million per year. "I think he has been really great," Nike chairman Phil Knight told the Sports Business Journal this week. "When his career is over, you'll look back on these indiscretions as a minor blip, but the media is making a big deal out of it right now." Woods' sexcapades and subsequent absence from the Tour might not hurt Nike's $650 million golf business as much as you think. Golf accounts for less...
...Besides Nike, several other Woods sponsors may escape unscathed. Sure, the ugly headlines are a p.r. disaster. But who knows if any business will be materially impacted by the Woods scandal? Bottom line: sponsors shouldn't overreact. "You can't just look at today," says Ganis. "There's just so much to this story that has yet to be written...
...marketers are saying they would cancel, reduce or suspend their business relationship with Woods if he were currently their celebrity endorser. After news of Tiger's intentions broke, AT&T, the golfer's bag sponsor, said, "We are presently evaluating our ongoing relationship." Not exactly a ringing endorsement. Nike, which built its entire golf business around Woods and thus has the most to lose from his failings, is still sticking by him. "He and his family have Nike's full support," the company said...
...Challenge, a tournament Woods was planning on hosting, Tiger has made it clear that he wants to remove himself from the spotlight until this boils down. This spotlight is indeed considerable—Tiger is far and away the highest-paid athlete in the world, with numerous endorsements like Nike and AT&T pushing him over $1 billion in career earnings. He not only is the face of the PGA Tour but also started the Tiger Woods Charitable Foundation and the Tiger Woods Learning Center. Tiger even has a DVD box set of his golf highlights at a time where...
Much of Woods' reported billion-dollar wealth has come from endorsements - Gatorade, Nike and Electronic Arts, among others - and it is these deals that are usually most damaged by crises. But as long as Woods still sinks the ball, big companies will want to walk in his spikes. Nike and Gatorade have already released statements of support. They are too heavily invested in him to cut him loose...