Wednesday, 12 October 2011

Tiger Woods becomes Rolex latest ambassador

 Since 2009 after Tiger Woods minor car crash triggered a major personal scandal and the desertion of many of his corporate backers, the former world No1 golfer, Tiger Woods, has signed an endorsement deal with Rolex. The Swiss-based watch maker Rolex announced it had signed Woods, to be one of its ambassadors.
 The management ofRolex said it was paying tribute "to the exceptional stature of Tiger Woods and the leading role he plays in forging sport's global appeal."Rolex is convinced Tiger Woods has a long career ahead of him and that he has the qualities required to continue to mark the history of golf," it said.
Woods, who earlier this year announced a deal in Japan to endorse a heat rub product for Kowa Company Ltd, had lost five major endorsements in the two years since he was exposed for serial adultery and eventually divorced. He previously had a watch deal with Tag Heuer, which dropped him two months ago. During that time, Woods lost the majority of his sponsors, this new development with Rolex, marks a rare piece of positive news in what has been a decline in Woods's status as a corporate pitchman.
According to recent Forbes Fab 40: The World's Most Valuable Sports Brands, Tiger Woods is still the most valuable athlete brand in the world despite recently falling out of the top 50 world ranking in golf for the first time in 15 years.
Athlete brand values are the amount by which their endorsement income exceeds the average of the top peers in their sport. Although Tiger’s brand value fell to $55 million from $82 million last year, his brand is still $29 million more valuable than the number two most valuable sports brand, Roger Federer.

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