Golf Digest Ends 13-Year Endorsement Deal With Tiger Woods
NEW YORK - Tiger Woods has one less endorsement deal, ending his 13-year relationship with the biggest golf magazine, Golf Digest, the Associated Press reported.
The two sides couldn't agree on how much time Woods should and would devote to writing golf tips for the magazine, the report said.
The relationship was the golfer's second-longest endorsement deal behind one with Nike, according to the AP, which said it was estimated to be worth no more than $2 million a year, one of his smaller deals.
It is the latest endorsement setback for Woods since news of extramarital affairs first emerged. Gillette recently said it would not renew its contract with him, which expired at the end of 2010.
Since news of his extramarital affairs broke in 2009, he has lost endorsement deals with Accenture, AT&T and Gatorade.
Plus, Electronic Arts just dropped Woods from the cover of his own game.
"We appreciate the insights Tiger has provided to our readers," Jerry Tarde, chairman and editor-in-chief of Golf Digest, said in a statement. Woods' last column will run in the February issue.
"I enjoyed my relationship with Golf Digest," Woods said in a statement released by the magazine. "But we have decided it's now time for a break."
"The reality is his deal was up at the end of the year," said Mark Steinberg, Woods' agent at IMG. "Because we're living in this digital world, they needed more time from him. He wasn't ready to commit to any additional time at this point with everything going on - trying to work on his swing and other things."