Golf is forced to consider a future without Tiger Woods

Golf superstar Tiger Woods was seriously hurt in a car crash earlier this week and if it turns out his injuries bring his competitive career to an end then that could have serious implications for broadcasters, sponsors and marketers.

However, at least one industry expert told Bloomberg that Woods himself could still make millions from speaking engagements, appearance fees and memorabilia deals even if he never plays in another tournament.

Who could be affected?

• If the crash ends Woods’s playing career, several TV broadcasters will lose one of their biggest draws. They include ViacomCBS, which will broadcast the Masters in April, and Comcast, which broadcasts golf on the NBC network and the Golf Channel.
• Discovery Inc. also will have to adjust its plans. The company has a deal in which Woods provides behind-the-scenes footage for GolfTV, a streaming service, as well as exclusive content for Discovery’s Gold Digest magazine.
• His sponsors include Nike, a partner dating back to 1996, Monster Energy, TaylorMade, which makes his clubs, and Bridgestone, the maker of his golf balls.
• When Woods won the Masters in 2019, the exposure generated $23.6m for his sponsors, according to analytics firm Apex Marketing Group. That level of exposure will be hard to replicate.
• But Bob Dorfman, a sports marketing executive at Baker Street Advertising, said he expected Woods’s sponsors to stick with him so long as he avoids scandal and remains visible. Like boxer George Foreman or NFL quarterback Joe Namath, he said Woods could still have a lucrative career even if his playing days may be over.

Key quote

“You won’t see the Nike logos on his shirt or him swinging a TaylorMade club or his Bridgestone ball rolling in the cup. That will be a challenge for those companies” – Bob Dorfman, Baker Street Advertising.

Sourced from Bloomberg

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