After nearly a decade (9 years to be exact) General Motors Corp. (Owners of Buick) has decided to end its 9-year endorsement deal with Tiger Woods. Who is the blame for all of this? Well it turns out that its the poor economy. GM released a statement stating that it is looking to cut down costs, and that Woods was looking forward to spending time at home with his growing family (he has a baby on the way.
Woods has endorsed GM products around the world and mainly has been seen in Buick commercials as the company tried to give the nameplate a more youthful image. “I am very proud of the long standing partnership I’ve had with GM and have enjoyed being a part of the company’s dramatic product evolution,” Woods said in a statement. GM’s statement said the company and Woods agreed together to end the deal, and the separation was amicable.
GM has been making dramatic cuts in advertising as it tries to conserve cash. The nation’s largest automaker spent nearly $7 billion more than it took in last quarter and has warned that it may reach the minimum amount required to run the company by the end of the year without federal help. Experts say a company that falls below minimum cash levels will have to stop paying some of its bills, a move that could force it into bankruptcy protection.
Orignal Article from NBC Sports
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