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Tiger Woods Endorsement Study


When Tiger Woods’ sexual exploits exploded out of the closet, there was a ton of speculation as to what would happen to his endorsement deals. According to the study by professors at UC Davis:

“Mr. Woods’ top five sponsors (Accenture, Nike, Gillette, Electronic Arts and Gatorade) lost 2-3 percent of their aggregate market value after the accident, and his core sports-related sponsors EA, Nike and
PepsiCo (Gatorade) lost over four percent.”

I think the study would have been more compelling if there was some sort of analysis of media coverage. TMZ and a few other blogs were the first to report that the crash was related to a sexual affair. But none of the major networks reported this was the case until a few days later. I am assuming that the stockholders for Pepsi, EA, and Nike (despite being “younger” and more “active” brands) are not avid readers of online gossip blogs. The study also did not track the exact stock movements when Gilette dropped him as a spokesperson and the day he announced a leave of absence from the sport. Perhaps this could have been included somehow and maybe push up the r-squared?

His stone-faced apology to the world is perhaps what Joy Behar speculated it to be: a renewal of vows to Nike.

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