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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...
...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...
Scrap Metal and Bridal Gowns You could throw a dart at a chart of S&P 500 companies and come up with a China story. Intel is spending hundreds of millions of dollars to build a gleaming new factory in the northern Chinese city of Dalian. Nike signed up Chinese basketball wunderkind Yao Ming and then a gaggle of élite Chinese athletes to become the most popular sports brand in the country, growing 22% this year in China compared with barely 2% in the U.S. FedEx invested billions in logistics in China and the Pacific Rim, not just enabling...