Gatorade has become the latest sponsor to drop golfer Tiger Woods. It’s the third major brand to drop its sponsorship with Woods since he became entrenched in a public sex scandal last Fall.
From CNN.com:
At first, Woods’ sponsors said they would stick by their star athlete. But in December, Accenture and AT&T (T, Fortune 500) announced they were dropping sponsorship. Woods had signed a multi-year agreement with the telecom giant in February 2009, but terms of the deal weren’t disclosed.
Procter & Gamble’s (PG, Fortune 500) Gillette said it would stop airing commercials that feature Woods for a while, though the company stopped short of saying it would end the relationship. Other major sponsors, including Nike (NKE, Fortune 500), have stuck by Woods.
NIKE is smart not to jump off the bandwagon because in a year, Tiger’s sex scandal is going to be Page 7A news. That’s just how it works in this country and if you don’t believe me, look at Kobe Bryant’s scandal in Colorado. People don’t forget – they just stop caring once another athlete screws up.
NIKE knows that it just has to ride out the storm and once it does, the company will probably be viewed as being loyal and trustworthy. It’s only a matter of time before Woods is back on the links winning majors and he will no doubt have that swoosh on his hat for everyone to see.
Photo from fOTOGLIF
