Our Terms of Service and Privacy Policy have changed.

By continuing to use this site, you are agreeing to the new Privacy Policy and Terms of Service.

Gatorade drops sponsorship of Tiger Woods

tiger_woods_gatorade.gi.top.jpgBy Julianne Pepitone, staff reporter


NEW YORK (CNNMoney.com) -- PepsiCo's Gatorade said Friday that it has ended its business relationship with Tiger Woods.

"We no longer see a role for Tiger in our marketing efforts," a Gatorade spokesman said. He added the company's partnership with the Tiger Woods Foundation will continue.

PepsiCo's (PEP, Fortune 500) Gatorade is the third major brand to drop its sponsorship of Woods.

The announcement comes after months of allegations of extramarital scandal, which has played out in the public eye. On Nov. 25, The National Enquirer reported that golf pro Woods had been dating New York nightclub hostess Rachel Uchitel. Woods is married to Elin Nordegren, and the couple has two children.

Two days after the Enquirer story was published, Woods pulled out of his driveway in Windermere, Fla., hitting a fire hydrant and a tree, according to an incident report.

Media speculation swirled around the event and a few weeks later a slew of other women began to come forward, claiming to be Woods' mistresses. On his Web site, Woods responded to the allegations by admitting to "personal failings."

At first, Woods' sponsors said they would stick by their star athlete. But in December, Accenture and AT&T (T, Fortune 500) announced they were dropping sponsorship. Woods had signed a multi-year agreement with the telecom giant in February 2009, but terms of the deal weren't disclosed.

Procter & Gamble's (PG, Fortune 500) Gillette said it would stop airing commercials that feature Woods for a while, though the company stopped short of saying it would end the relationship. Other major sponsors, including Nike (NKE, Fortune 500), have stuck by Woods.

Earlier this month, Woods admitted in a televised speech that he had been unfaithful to his wife and had been in therapy to deal with his issues. He said he plans to return to professional golf at some point.

-- CNN's Amy Sahba and CNNMoney.com's David Goldman contributed reporting. To top of page

Search for Jobs

Index Last Change % Change
Dow 20,656.58 -4.72 -0.02%
Nasdaq 5,817.69 -3.95 -0.07%
S&P 500 2,345.96 -2.49 -0.11%
Treasuries 2.42 0.02 0.92%
Data as of 2:26am ET
Company Price Change % Change
Bank of America Corp... 23.07 0.13 0.57%
Ford Motor Co 11.67 -0.10 -0.85%
Micron Technology In... 26.47 0.41 1.57%
Advanced Micro Devic... 13.79 -0.31 -2.20%
Chesapeake Energy Co... 5.09 0.09 1.80%
Data as of Mar 23
Sponsors

Sections

Mexican foreign minister Luis Videgaray said if trade talks don't result in a good agreement for his country, "Mexico will step away from NAFTA." More

The Federal Communications Commission voted Thursday to approve a proposed rule that would make it easier for phone companies to crack down on robocalls. More

Your credit score plays a major role in your personal finances. The better the score, the better it is for your wallet. Here's how to help get it above the 800 mark. More