Blog Entry

Fortune: Tiger needs money, zapped by Nike

Posted on: July 15, 2011 11:33 am
Edited on: July 15, 2011 4:28 pm
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SANDWICH, England -- Fortune Magazine, a longtime observer of the financial tide around the globe, has turned its eyes toward Tiger Woods and found ...

Not much, apparently.

The magazine's website posted a story this week stating that the reason Woods signed a deal to hawk a Japanese pain-relief rub was because he's out of money after being cleaned out in his divorce and losing several lucrative endorsement deals in the wake of his sex scandal.

Like many Americans, Woods is carrying a fat mortgage, on his new Jupier Island abode, too.

Said the story: It's no secret that Woods, once king of the sports world, has suffered financially since his fall from grace. His endorsement list shrank and his marriage ended in a divorce settlement reportedly worth $100 million. But now he may actually be hurting for funds. At the very least, there are signs that he isn't generating enough to comfortably cover his costs.

Howver, the biggest note was yet to come. The story suggests that Nike, which has an entire golf division built around Woods, docked him millions in pay as penalty for his humiliating indiscretions.

Said the story: With giants like Gillette, Accenture, Tag Heuer, and Gatorade having jumped ship, Tiger's major deals are down to three: Nike, EA Sports, and Kowa. His EA Sports video game, Tiger Woods PGA Tour '12, set a first-week franchise record of 225,000 games sold. But our source also tells us that Tiger's Nike money fell by as much as 50% in 2010 (to about $10 million, down from $20 million in 2009) and that he will get the same reduced amount for 2011. The reason? Nike penalized him for his indiscretions, reducing his payment for two years as a response to his public behavior. Nike had no comment.

Woods' agent denied that his lone client is in financial hot water, but did not speak to the particulars of the Nike details cited.

"Tiger Woods is financially sound and strong, contrary to wide-ranging rumors and inaccurate figures in the media," Mark Steinberg wrote in an email to Forbes. "Stating anything else is incorrect and factually baseless."

The original Fortune story can be found here:  http://features.blogs.fortune.cnn.c
om/2011/07/15/is-tiger-woods-runnin
g-out-of-money/


Meanwhile, things seem to be going swimmingly for Elin Nordegren, who reportedly received a $100 million divorce settlement from Woods. According to the New York Post, she is dating wealthy American investor Jamie Dingman, who has acres of money on hand, apparently.

That story is here: http://www.nypost.com/p/pagesix/eli
n_dating_billionaire_son_O8mqWO21Bn
3OPn8D6MHZ3M

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Category: Golf
Comments

Since: Jun 24, 2011
Posted on: July 20, 2011 11:01 am
 

Fortune: Tiger needs money, zapped by Nike

g n b how did you know i hide my pot in the kettle?

you heathen have you been spyin on lil ole tonya?

are you lookin for a lil somethin somethin....



Since: Aug 7, 2008
Posted on: July 20, 2011 2:17 am
 

Fortune: Tiger needs money, zapped by Nike

Tiger Woods is not broke...far...from...it. He only needs to win three majors and Nike will come begging to give him hundreds of millions of dollars. It worked for Michael Vick who many had said a few years ago would never ever be paid by Nike again.




Since: Mar 3, 2009
Posted on: July 19, 2011 7:08 pm
 

Fortune: Tiger needs money, zapped by Nike

of course its dwindling!
when you have a haram of horrors on the payroll anything can happen.
diamonds furs cars drug habits stumblin around droppin cash when they are crawlin
outta clubs mortgages rents phone bills so other johns can contact them
and on and on.....

This is pretty funny comin from someone who has a loser, red-neck, criminal for their screen name.


Pot meet kettle.



gb2





Since: Mar 3, 2009
Posted on: July 19, 2011 7:01 pm
 

Fortune: Tiger needs money, zapped by Nike

dk13beso:
Couldn't happen to a more deserving jerk than Eldrick. I've been racking my brains trying to come up with my own mortgage money for next month and just can't feel too sorry for this pompous, spoiled a-hole.

Out of your 5 or 6 hate filled posts on this thread, I just found the reason for your anger towards Tiger:

Pure and simple jealousy.

How sad. He didn't hurt you or your family and you can't give it a rest.



Oh, and as far as "racking your brains trying to come up with my own mortagage payment this month"?........


I am sure it must be difficult for a guy who rode the short bus in school every day, but you might wanna try to get a job.



gb2









Since: Jun 24, 2011
Posted on: July 19, 2011 11:04 am
 

Fortune: Tiger needs money, zapped by Nike

of course its dwindling!
when you have a haram of horrors on the payroll anything can happen.
diamonds furs cars drug habits stumblin around droppin cash when they are crawlin
outta clubs mortgages rents phone bills so other johns can contact them
and on and on.....



Since: Nov 29, 2006
Posted on: July 19, 2011 7:59 am
 

She's Baaack. Here comes Rachel.

Tiger's #1 mistress my be pulling the duct tape from over her mouth. Rachel Uchitel, was paid somehwere in the neighborhood of $10 million dollars in hush money by Woods, in a deal brokered by Gloria Alred. In return she agreed never to speak about their affair. Uchitel has now returned the hush money to the Woods camp, and is coming out swinging. Uchitel is now going after Alred, whom she feels ripped her off in the deal, and demanding that she return her cut of the hush money. A woman who gives back $10 million is probably pretty confident she is in line to get more. So what are we talking here? Is Uchitel going to do a "tell all" about the intimate details of the relationship with Woods? Or, is Rachel trying to curry favor favor with Tiger, and this a sign that Uchitel and Woods are getting back together on an "official" basis, and she's going for the title of Mrs. Tiger Woods? Woods has been linked with Uchitel after the Elin breakup, and in April 2010 rumors circulated that he was going to marry Uchitel and make her the stepmother of Wood's children. Reading the tea leaves here, smart money says Uchitel and Woods are getting back together.



Since: Sep 13, 2009
Posted on: July 19, 2011 6:26 am
 

Fortune: Tiger needs money, zapped by Nike

dang, he'll actually have to play more golf. Won't be able to pick and choose.



Since: Jun 25, 2009
Posted on: July 18, 2011 10:38 pm
 

Fortune: Tiger needs money, zapped by Nike

I know Elins pay out was predicated on one glaring stipulation . Remember she was not allowed to devulge a certain specific piece of information on Tiger , not even in her tell all book . What could this be ? At the time people laughed it off as damage control for somebody already ruined but still I have to wonder , of all the things going wrong, what was tiger so scared of the public knowing at the time ? or knowing now ? Did this sex crazed lunatic bed a minor , a boy , or is it steriod use ? Can't be good whatever it is . But Elin knows . Can't imagine what a 100 million dollar secret could be .

I don't know what he did that's worth paying somebody off 100 million dollars..... but I know one thing for sure, if we ever find out it won't be from his ex wife.  But wait and see, we'll find out plenty soon enough.  It might be soon or it could be 2 years from now, nobody knows. But one of these days somebody is going to talk....... For Tiger to get away with what he did for so long there had to be a whole lot of people in this world on the take.... it's only a matter of time before he's exposed. 



Since: Jan 5, 2009
Posted on: July 18, 2011 10:14 pm
 

Fortune: Tiger needs money, zapped by Nike

Tigers got a big nut to crack each month with his homes and lavish lifestyle, but I doubt seriously that he is in any kind of trouble.  Perhaps he needs to dial his exhorbitant world back a little bit, which will give him such much needed humility.  I think what bothers me most about Tiger is he has never changed at all.  Still aloof, still egotistical, still arrogant.  I hear people say how Tiger behaves this way because he wants to win so bad, that he is driven.  Well, guess what, so are all the other top golfers in the world. They want to win too.  Take a lesson from Darren Clarke and his love for the game, the fans, the experience.  Tiger is a spoiled kid that never really grew up.



Since: Dec 28, 2007
Posted on: July 18, 2011 6:34 pm
 

Fortune: Tiger needs money, zapped by Nike

At least he's getting his hush money back from his whore. That will help.



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