GM & Tiger Woods No Longer Golfing Buddies, but Still Friends

As of December 31, 2008, General Motors ceased its endorsement deal with Tiger Woods after nine years. The deal, reportedly worth up to $7-million annually, ended due to several factors, including the current hardships in the auto industry. A joint press release also stated that Woods is eager for more personal time after the news that he and his wife are expecting their second child.

The sponsorship agreement that saw the 14-time major winner endorse Buick products in the USA, Canada and China.

“Tiger has been a great friend to GM and a fantastic asset through the years helping to bring consumer awareness to many new GM products,” said Mark LaNeve, General Motors North American Vice President of Sales, Service and Marketing.

In a statement, Woods returned the good will, stating that, “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. We’ve had a lot of fun together and I participated in some unique and rewarding activities. We’ve enjoyed a tremendous partnership over the years and we will maintain strong ties with the many people at GM we call friends.”

Official release after the jump:

GM And Tiger Woods Announce End To Endorsement Deal

DETROIT, MICHIGAN – General Motors and Tiger Woods announced today that they will conclude their endorsement deal effective December 31, 2008.

Both GM and Woods agreed to a mutual and amicable separation that included a desire for more personal time for the 14-time major winner who is expecting his second child in late winter as well as the search for budget efficiencies during a difficult economy for General Motors. For the past nine years, Woods has endorsed GM products around the world and has been heavily associated with the Buick brand in the US, Canada and China markets.

Mark LaNeve, General Motors North American Vice President of Sales, Service and Marketing said, “Tiger has been a great friend to GM and a fantastic asset through the years helping to bring consumer awareness to many new GM products. In light of the news coming out of Washington,” LaNeve added, “This decision is the result of discussions that started earlier in the year and the timing of this agreement with these other activities is purely coincidental.”

In a statement, Woods commented, “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. We’ve had a lot of fun together and I participated in some unique and rewarding activities. We’ve enjoyed a tremendous partnership over the years and we will maintain strong ties with the many people at GM we call friends.”