Why did Gatorade drop $100,000,000 Tiger Woods sponsorship?
When it comes to Tiger Woods, there is no shortage of famous brand sponsorships. From Nike to Rolex to TaylorMade, he has quite the reputation for wearing, using, and collaborating with big brands.
The deal with Gatorade was no different. Considered one of the most famous sports drinks in the world, Gatorade found the perfect opportunity to collaborate with Tiger Woods during his prime.
The deal was first established in 2007, when it was announced that Tiger Woods would have his own sports drink, "Tiger Focus".
Speaking about the 5-year deal, Woods said via NBCnews:
“Gatorade has been part of my game plan for years, whether I’m training or competing, so this is an ideal match. I’m eager to launch my first signature product in a few months and look forward to developing additional sports performance beverages with Gatorade in the coming years.”
@Jerrythekid21 Bring the Tiger Woods Gatorade back please!! pic.twitter.com/NLOZAKShtW
However, the deal fell apart in 2010, when Woods' adulterous scandals came to light. Gatorade became the third company to drop Woods after AT&T and Accenture, and Gillette followed soon after.
The four companies dropped him soon after he became exposed as a serial cheater after reportedly admitting to cheating with over 120 women.
How much money did Tiger Woods lose after being dumped by Gatorade?
Needless to say, Woods lost a lot of money due to his cheating scandal. Reportedly, the deal he signed with Gatorade was worth close to $100 million, all of which he lost when the deal fell through.
Speaking about the deal, a PepsiCo Gatorade spokesperson said in 2010:
“We no longer see a role for Tiger in our marketing efforts and have ended our relationship. Our partnership with the Tiger Woods Foundation will continue. We wish him all the best.”
Woods soon apologized for his behavior in a tight-lipped, heavily controlled televised event. However, he remained out of the public eye for almost 3 months when he crashed his car after his scandals came to light.
Many sponsors decided to drop the golfer, making him lose almost $100 million a year on average. However, other companies, like Electronic Arts, decided to continue to sponsor Woods.