GM Drops Tiger Woods Endorsement Deal

By: Associated Press
By: Associated Press

Monday Nov. 24, 2008
DETROIT (AP) -- General Motors Corp. is ending its nine-year endorsement deal with golf superstar Tiger Woods as the company continues to cut expenses and hoard cash while trying to survive the worst sales downturn in a quarter-century.

The endorsement deal, believed to be worth at least $7 million a year, was to have ended in 2009. Woods' agent says the decision to end the relationship a year early was "absolutely mutual."

(Copyright 2008 by The Associated Press. All Rights Reserved.)

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