GM Lays Off Tiger Woods
GM and Tiger Woods announced today that they’re amicably breaking up. Tiger needs to spend more time with his growing family and doesn’t want to jump through all the hoops a large endorsement deal includes. The $40 million deal was set to expire next year anyway, but this moves that date up one year. We’re not sure how much money that will save GM.
Woods’ tie to Buick was not an insignificant endorsement. While many car shoppers might not put a new Buick high on their list of cars to consider, the golf-club set did, and there’s no higher-profile golfer than Tiger Woods.
What does this spell for GM, Buick and Tiger? We think Tiger will do OK, and GM will save a little money. Plus there’s now one less reason for Buick to exist in case GM has to make a much bigger cut down the road.
