by: Harriet Fraad on February 26th, 2010 | 5 Comments »
Tiger Woods’ confession seems to have placated his public and perhaps his sponsors as well. He seemed so sincere. According to the reputable Golf Digest, Tiger Woods amassed approximately a billion dollars in his 13 years as a clean-cut, all American, star athlete. That billion was made from pitching products rather than hitting golf balls. Ten percent of his income was garnered from winnings. Ninety percent was from endorsements. Nike’s alone was worth about one hundred million dollars over five years. Gatorade – Pepsi co was negotiating a similar deal when the scandal erupted. At the same time Woods had endorsement deals with Gillette, ATT, Tag Heuer, and his own lucrative firm, Tiger Woods Design which gives its name to golf course developments from Dubai to North Carolina.
Like other wealthy confessors such as Elliot Spitzer, John Edwards and Senator Mark Sanford, statements of owing the public better behavior were like other political promises. There was no commitment to back them with payment.