Tiger Woods has lost a lot of his friends, at least among the public. A new Rasmussen survey released today reports that a national telephone survey found that just 38% of Americans now have a favorable opinion of the golf superstar. That’s down from 56% a week ago, shortly after the stories first broke about Woods’ auto accident. Two years ago, 83% had a favorable opinion of Woods.
Rasmussen also said that “the new data shows 49% holding an unfavorable opinion of the embattled Woods, up from 27% a week ago.”
The poll results mean that it is almost certain that Woods will lose some of his estimated $100 million a year in endorsements. Companies such as Gillette and Nike (NYSE:NKE) cannot afford to have their brand associated with an athlete who the public sees as a serial adulterer and perhaps a sex addict.
Sponsors are not the only people likely to be severely damaged by Woods’ behavior. Television network sports have experienced sharp increases in viewership for gold tournaments when Tiger plays. Woods may need to take time off from the sport or fans may turn their backs on him. The PGA may be the largest loser because of Woods’ behavior. Tournament attendance has soared along with TV ratings since Woods joined the tour. That has helped the purses shared by golfers and the charities that receive money from every stop on the PGA circuit. The tour raised over $120 million for non-profits in 2008 and that level is already under pressure due to the recession. The pool of money paid to players in each tournament is often $5 million and at elite events it is often more than $10 million. Much of that money will evaporate without Woods’ participation at major tour stop.
Woods’ popularity is fading fast and with it the fortunes of sponsors, TV network, charities, and the PGA .
Douglas A. McIntyre
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