With the recent economic landscape, Tiger Woods and General Motors Corp. are participating in talks regarding the golfer's continued involvement in advertising the Buick past 2009. As a result of the failure of $15 billion in asset sales giving GM the safety net it wishes, GM is planning to proceed with a series of cost cuts. The endorsement deal was held with the golfer since 1999, and Buick has indicated that it does not wish to cut back on golf sponsorships. As a result of the economy, the company's stock dropped by three quarters, and GM has laid off 53,000 union workers.
The contract will expire in 2009, and there is discussion of whether it will make the most fiscal sense to renew the contract. Really, the talks are currently discussing the nature of the relationship between Woods and Buick, and talks directly relating to the possibility of renewal of the contract are not in the works. Buick has come out and said that there is no wish to sever ties with Tiger Woods, who carries a Buick logo upon his golf bag and appears in television and print ads.
For half a century, Buick had continued its involvement with golf and is the Official Car of the US PGA tour, through 2010. Buick is the largest sponsor of the PGA tour, and they have no plans on changing. But the recent problems on Wall Street have led experts to predict rough times ahead for the golf's top circuit. This is a problem that a lot of sponsors are facing, making sure that every dollar spent is utilized to its fullest. Many companies are looking for ways to save money. GM is planning to close down SUV assembly plants across the country because of the slowing of US sales of vehicles. At other plants, production will slow, affecting about 1500 workers.
Not even Tiger Woods is immune to the state of the economy, as advertising potential could dwindle. It is all about the viability of banks, making this a unique situation for the economic stability and viability within the job market as a whole. How much that Tiger Woods makes with Buick is confidential, but last year, Tiger made over 120 million dollars between golfing and commercial endorsements. Buick recognizes the need for advertising, and the value of pros like Tiger Woods in marketing brand names. The issue at hand is to ensure that advertising money is spent efficiently.
In the end, it will be likely that Tiger Woods and GM will continue their relationship without modification, although anything can happen. Advertising has always been and will always be a vital component of everything commercial, but what will likely happen is that money going into advertising will be cut back and more efficiently spent. For the golfing world, sponsors will start to cut back and it may make things tight for the PGA with tournaments and other sponsored events. Given the power behind professional golfers in advertising, corporate money will always be available; it is just the amount that will diminish.
Related Posts -
Bridgestone Invitational: Firestone Golf Tournament Recap Tiger Woods manages to take the lead midway through the final round of the Bridgestone tournament. Tiger Woods managed to ride his putting stroke, allowing him to take the lead in the middle of the final round of the Bridgestone Invitational World Golf Championship on Aug 9. Woods, who currently...... -
Tiger Woods Expects to be an Even Better Golfer Upon His Re-debut in 2009 Anyone who was hoping that Tiger Woods would have lost a little bit of an edge while away from the golf course with a knee injury is apparently going to find themselves sorely disappointed. This is because the world number one golfer, Tiger Woods swears that he is going to...... -
Tiger Woods Helps End Fitting President's Cup In San Francisco The Presidents Cup wrapped up this Sunday with the American team is still undefeated at home. Making a flop shot from out in the trees, Tiger Woods won the cup, and became the third player in the history of the Presidents Cup who was able to win...... -
Golf Equipment 101 If you are lacking in the right equipment for golfing, then you may end up having a hard time when it comes to playing your best on the course. This is generally because golfing equipment comes in a wide variety of different sizes, different shapes, different weights and each of...... -
Tiger Woods Wins 2009 Buick Open Tiger Woods has managed to fire for a three under 69, allowing him to take the win in the Buick Open by a total of 3 shots. The World no. 1 led Michael Letzig by a single shot when going into the final round. This was the third Buick Open......
Related Websites -
Comparing My ING Orange Account To Higher-Interest Savings Accounts. For the last 6.5 years, I have been a very happy customer of ING Direct. I have been keeping my emergency fund, my taxes account, and our "buy a home" savings accounts there and have never had any problems with them...well, except for their interest rate. There was a time...... -
Toyota Problems... a magic opportunity for American cars? Toyota is having public relations problems for being so slow to act on car problems and now they have a broad car recall in effect. Here's the Toyota link to see if your Toyata car is being recalled. This is happening just as American car manufacturers are defying business failure...... -
Forums - Talk And Make Money If you have a website about a topic you enjoy, you can make money from discussion forums. Talk, post links to your site, get traffic. Traffic means money, right? If not, try different affiliate programs or Google Adwords. The worst sites should get a couple cents per visitor. Now...... - Unbroke: What You Need to Know About Money This last Friday, at the dreadful 9PM timeslot, ABC ran a show called "Unbroke: What You Need to Know About Money." If you follow personal finance blogs, you've probably read a lot of reviews. I've been busy moving, so here's my unbiased thoughts on the show... done Bill Simmons diary......
-
Save Time, Money and Space in Over 80 Ways If you're looking for handy gadgets, tools and various items that can save you time, money or space (or all three!) this list of more than 80 top products is just what you need. Everyone's got saving money on their minds these days. Some of us are always looking to......
- Deals Bretton Woods New Hampshire Skiing Vacation
- Buick American Automobiles Advertising Collectibles
- Tiger Cat-Wild Animals Collectibles
Categories:
Golf News, tiger woods
Tags:
1 comment so far ↓
I doubt that Tiger drives as much as the average schmoe, but when he does, is it realistic to think he’s in a Buick?
Leave a Comment