Not-so-happy New Year for Tiger Woods as he's dumped by AT&T
2009 was not so fine: Tiger Woods has been dropped by AT&T
Another major sponsor has dumped Tiger Woods in the rough.
Phone giant AT&T became the second advertiser to cancel its multi-million pound deal with the shamed golfer.
The company signed a multi-year agreement last February for Woods to carry its logo emblazoned on his golf bag.
And the world’s top golfer has hosted the annual AT&T PGA tournament since it started two years ago.
But yesterday the phone firm severed its ties with Woods, joining a growing list of sponsors distancing themselves from him in the aftermath of the cheating scandal.
Lurid revelations about the golfer’s string of alleged infidelities was a public relations nightmare for companies that paid him more than £63million a year for endorsements.
According to a new study by researchers in California, total losses for shareholders at companies who sponsored the fallen sports hero could add up to as much as £8billion.
Global consulting firm Accenture was the first to jettison Woods and some advertisers, including Gillette and luxury Swiss watchmakers Tag Heuer, have dialled back their campaigns featuring him.
However, Nike, by far Woods’ biggest backer, has said it will stand by the beleaguered sports star.
AT&T, which is based in Dallas, Texas, did not comment on its reasons for dropping Woods or say how much the relationship was worth.
Woods hits from a bunker on the 11th hole during the first round of the AT&T National golf tournament in Bethesda, Maryland, in July 2009. AT&T has cancelled its multi-million pound deal with the beleaguered golfer
Accenture sponsored Woods for six years before ending its deal
PGA Tour spokesman Ty Votaw said that since Woods is on an indefinite break from golf to try to sort out his personal problems, he will not host the 2010 AT&T event.
Woods won the 2009 tournament, held at the Congressional Country Club in Bethesda, Maryland.
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AT&T is also ending its sponsorship of Tiger Jam, an annual charity event held in Las Vegas to raise money for the Tiger Woods Foundation.
Woods’ financial empire started crumbling soon after his now infamous car crash outside his Florida mansion that triggered a series of increasingly tawdry claims about his extra-marital affairs with as many as eleven alleged mistresses.
Woods has faced problems in both his professional and personal lives after news of his infidelity broke
A parade of women, from cocktail waitresses to porn stars, came forward to say they had flings with the married father-of-two.
Woods confessed his infidelity to his Swedish wife Elin Nordegren a fortnight ago and announced he was quitting golf in a bid to save his marriage.
There have since been reports that he was seen at a party with one of his alleged lovers, 34-year-old New York club promoter Rachel Uchitel.
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