Another major sponsor of the world’s number one golfer, Tiger Woods announced today that the company is dumping him.
AT&T canceled its multi-million dollar sponsorship of Woods, although no explanation was provided. It also removed its logo from the golfer’s bag.
The telecommunications giant joins a list of other major sponsors that have pulled away from the serial cheater Woods. Earlier this month, Accenture announced that Woods was no longer a suitable person to promote the company and Gillette and the luxury Swiss watch maker, Tag Heuer, have pulled back on using Woods in their advertisements.
Woods’ squeaky clean image became badly damaged following his early morning car crash on Thanksgiving and the subsequent revelations of the many alleged mistresses who claimed they had had a fling with the Tiger.
A married father of two, Woods not only shocked the golfing world by admitting to his “transgressions”, but appeared to have had a bevy of mistresses from cocktail hostesses and club promoters to porn stars, totaling at least 11.
AT&T gave no indication of the value of the contract with Woods, but it is well-known that the golfer rakes in some $100 million annually, mostly from endorsements.
Meanwhile, a recent study undertaken by two professors at the University of California, have put the losses of shareholders of companies who sponsored the disgraced Woods, between $8 to $12 billion. These losses are distinct from Woods’ personal losses which he would most likely suffer.
Woods, who has not been seen publicly since crashing his SUV in the early morning hours the day after Thanksgiving close to his multi-million dollar home in Isleworth near Orlando, is reported to be attending a rehab clinic in Arizona and being treated for sexual and other addictions.
