Woods, GM Discuss New Buick Endorsement Pact
24/10/2008 04:32
Tiger Woods and General Motors Corp., the largest U.S. automaker, have had an "early conversation" about his current endorsement contract and whether the two sides will continue beyond 2009.
Woods's agent, Mark Steinberg, and Larry Peck, marketing manager for the golf division of GM's Buick line, said they recently spoke about setting a time frame for when they will hold further discussions.
Buick, which has had an endorsement agreement with the world's No. 1-ranked golfer since 1999, has no plans "right now" to scale back its golf sponsorships, Peck said in a telephone interview. The company's stock has dropped more than 74 per cent this year to $6.19 at Wednesday's close, and GM has cut 53,000 union workers since 2005.
Because of that, Steinberg said in a telephone interview that he wants to find out if it "makes sense to continue" beyond 2009, when the contract is due to expire.
SWIVEL HIPS SAYS:
Just what Tiger needs, another new, lucrative endorsement package!